Client Profile – Government Financial Entity

The Need

  • Provide quality assurance (“QA”) review for Non-Performing mortgage loans
  • Post-purchase review of the Credit and Valuation components of each loan
  • Establish the severity and validity of claims
  • Ensure compliance with regulated Operational Guidelines
  • Provide verification that each loan was compliant with relevant standards established within the governing time period, in accordance with appropriate market conditions for Non-Performing loans, Post Foreclosure Review (“PFR”), Early Payment Defaults Review (“EPD”) and Loss Mitigation Review (“LOS”).

The Solution

  • Partnered with finance technology experts who provided managed hosting, integration, web services, reporting and professional services along with its proprietary forensic data management system
  • The Work Flow was designed to capture specific data elements, research documents that are used to investigate and prove Findings and Boilerplates that are formatted as Repurchase Letters to send to each Lender.  Each loan had a series of audit checks according to the criteria defined for Credit/Underwriting and Valuation reviews.
  • A Forensic Review was designated at each stage of the process to perform the review.  Seasoned Underwriters and certified Appraisers were retained to examine and inspect all data and documents for each loan.  Daily loan transmittals from the Client were reconciled and then queued for the Forensic Review process.

The Results

  • Our ability to bring expert technical resources to bear, with minimal lead times, enabled the Client to fulfill its needs
  • Partnered with IT specialists to create a complete product offering that best suits our client