Quality Assurance Services
GSE Compliance QA:
With GSE compliance QA, Lenders Allies assists its customers by analyzing the loan file as per Fannie Mae or Freddie Mac guidelines. We check the underwriting conditions, borrower documents, and also conduct a collateral review to make sure everything is in accordance with the regulations set by the GSE’s.
Portfolio Audit services
Quantify fraud or misrepresentation impact on loan performance.
Analyze and review the entire portfolio to check the quality of loans.
Review underwriting guidelines.
Analyze and review sale/servicing contracts.
End to End review including authoring and follow ups on demand letters.
Loan Processing Services
Our scope of work:
Collecting and reviewing applicants documents like paystubs, 1040, mortgage statements,
Divorce decrees, Child support etc.
Getting credit report.
Generation of GFE, TIL, 1003, getting them signed and collecting all other disclosures from
Preparing, sending and following up on all verifications.
Verify Loan docs and disclosures and pre underwrite the files.
Order title and appraisals.
Submit documents to Underwriter/ Lender for decision.
Review underwriter conditions.
Submit the documents for clearing.
Prepare final documents (1003/1008) for funding of the loan.
Outsourcing processing functions to Lenders Allies helps lenders, maintain healthy profit margins in spite of inconsistent loan volume, making costs variable in comparison to bearing fixed overhead. Apart from costs Lenders Allies helps in the following areas:
Expedite file flow.
Manage personal costs.
Diligent file preparation.
Timely follow up on crucial documents.
Timely delivery of files.
Pre-Post funding QC
Verify the loan file and the borrower’s documentation.
Check for data integrity.
Analyze and review credit worthiness.
Conduct a collateral review.
Check for regulatory and compliance guidelines.
Analyze and review the loan file for any frauds or misrepresentation.
Re-verify all the files and documents.