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When your goal is quality assurance…

QC Review guides you from
pre-closing to beyond closing

Regulations and investor requirements make it critical for mortgage lenders to have processes in place that enable them to monitor loan quality throughout the entire origination process and beyond. QC Review enables you to do just that. Using QC Review, you can run quality assurance checks to meet your policies and procedures – and to ensure compliance with FHA/HUD, Fannie Mae, Freddie Mac, VA, and private investor requirements for prefunding analysis and post-closing audits.

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Our Pre-Closing QC Solution is Customizable – and Fast

QC Review takes each loan through a series of validations to ensure compliance, then provides a report detailing how the loan checked out and highlighting areas that need a closer look. Results are available in 24-to-48 hours, one of the fastest turn times in the industry.

  • Review of credit underwriting attributes (income, assets, liabilities, etc.)
  • Verification of complliance with lender guidelines and state and federal regulations
  • Custom or layered lender requirements for non-agency products (Non-QM, Portfolio, Consumer, etc.)
  • Real-time rebuttal access - Cure deficiencies required for CTC

Complete Post-Closing QC Reviews in 30 Days

Once a loan has been funded and closed, QC Review performs both an automated and a manual audit. These reviews not only verify data, but use proprietary technology to compare documents for inconsistencies, omissions and compliance thresholds, such as dates.

  • Review 10% of each loan type of your closed loans, as required by Fannie Mae and Freddie Mac
  • Re-verification of employment and assets
  • Review of the automated underwriting approval
  • Appraisal review
  • Audit reports
  • Exclusive technology allows comparisons of signatures, dates and other important details, clearly highlighting any inconsistencies and saving time over manual comparisons
  • Comprehensive reporting features and automated rebuttals make corrective actions simple and trackable

Identify Data Inconsistencies

After closing, QC Review can perform a forensics review to uncover any inconsistencies in the loan documents and ensure the loan remains in compliance with regulations. Forensics reviews can be customized to search for discrepancies in specific areas of the funded loan, such as re-verification of employment, identity, assets, and collateral. A forensics review may provide both material and non-material findings. Results are provided in a summary analysis that highlights the inconsistencies found and provides supporting documentation.

Repurchase loss protection with Reps & Warranties coverage

Loans that have been underwritten in QC Review have exclusive Reps and Warranties insurance coverage included in the cost. The insurance is underwritten by an insurer rated A by A.M. Best and A+ by Standard and Poor's. Lenders can obtain additional protection against repurchases for underwriting, fraud, compliance and appraisal issues through The Prieston Group’s Reps and Warranties Insurance program. Those who choose this optional program receive a Mortgage Operational Safety AssessmentTMto compare their lending processes against their peers and provide feedback on ensuring compliance using industry best practices.

Get the QC solution(s) you need

Schedule a consultation today.

 
 
 

Get the QC solution you need