Client FAQ

How long has ADFITECH been in business?

Founded in 1983, ADFITECH is one of the oldest and largest audit firms of its kind. We provide loan-level mortgage audits to lenders of all sizes, in every state of the U.S. Learn More About Us

Can ADFITECH provide us a Mortgage Quality Control Plan? What does it cost?

Yes. ADFITECH has a QC Plan that has been accepted by every agency and private investor that we have presented it to. ADFITECH will work with you to customize a plan for your specific investor’s requirements. This included at no additional cost as part of our mortgage QC services. To learn more about our QC plans and what ADFITECH can do for your organization, schedule a demo.

Do I have to sign a long term contract to do business with ADFITECH?

No. The ADFITECH agreement is a month-to-month agreement. You are under no contractual obligation to continue doing business with ADFITECH; however, we are confident that you will continue to use our services because of the quality of our work and outstanding customer service. Learn More About Our Services

What QC software do you use? Can I buy it?

ADFITECH uses a proprietary Mortgage Quality Control software package that has been developed by us, for us which is constantly updated and refined.
We do not sell our software because we believe it is also necessary to have the trained professionals that know QC and can provide our clients with years of experience that you can not get by simply buying a software program.

Is ADFITECH approved by Fannie Mae, Freddie Mac, FHA, VA, FHLB?

No. All the agencies maintain a policy against “approving” any vendor. However, ADFITECH has had a long-standing relationship with all of the agencies and is recognized as a leader in the industry with a reputation for excellence. The references we receive from our satisfied clients are the best “approval” we can hope for.

Can we send a test file for review?

Yes. We would need to both sign an NDA and Confidentiality Agreement to ensure the privacy of your customer and give us the authority to conduct the necessary investigation.
This would not obligate you to send any future work to us. If you want to stop after the test file, that is your choice. On the other hand, if you do choose to continue with ADFITECH’s Mortgage Quality Control Services, all we have to do is execute a Master Agreement for QC Services and you are ready to go.

What makes ADFITECH different from other Mortgage QC vendors?

Customer Service. From the day you sign up, you will experience a level of customer service that is unparalleled in the industry. You will be assigned to a team of customer service professionals dedicated to all your mortgage quality control needs. All ADFITECH mortgage audit personnel are full-time staff employees. We do not outsource or hire subcontractors to do quality control reviews, which means that you are assured a consistently high level of accuracy and professionalism. ADFITECH also maintains an Auditor Training School to assure that all of our employees are properly trained and up to date on all the regulatory changes. In addition, ADFITECH has an internal Quality Assurance department responsible for reviewing the work of every auditor on a regular basis. So, you can be assured that the audit reports you receive are accurate and well documented. View Our Blog with Updates on Industry Changes Learn More About Us

How do you protect my customer’s private information?

ADFITECH has many layers of security in place to protect your customer’s private information.

• ADFITECH begins by performing a thorough background investigation, including drug testing, on every employee before being hired.
• ADFITECH’s location in Edmond, Oklahoma, is a controlled access facility, with state of the art, 24-hour video surveillance.
• All reviews are performed on-site by full-time staff auditors. ADFITECH does not outsource or employ contract underwriters to review our client’s files.
• All loan data and loan file images are stored in our LOANVAULT® imaging system and are protected with 132-bit encryption and firewall protection, within a fireproof concrete vault. All information is continually backed up to our second building as well as a secure co-location, to ensure zero downtime in the event of a natural disaster.
• The ADFITECH I.T. staff constantly monitors all email and data transmissions for viruses and breaches of security.

Does ADFITECH have a SAS-70 or SSAE16?

Yes. ADFITECH provides financial accounting and annual SOC 1 Type II assurance reports.

Can I get a copy of your financial statement?

Yes. We can provide a financial statement upon request. ADFITECH is an independent company incorporated in the state of Delaware, operating in Edmond, Oklahoma. Request Financial Information by clicking here.

Do you carry liability insurance?

Yes. ADFITECH maintains appropriate levels of insurance coverage. A) Comprehensive General Liability policy in the amount of $2,000,000 for each occurrence and an annual aggregate of $4,000,000 B) Professional Liability policy in the amount of $2,000,000 C) Employer’s Liability Insurance in the amount of $500,000 D) Umbrella Coverage in the amount of $4,000,000 E) Crime Insurance coverage in the amount of $1,000,000 F) Employee Crime insurance in the amount of $1,000,000 G) E&O Coverage in the amount of $1,000,000

How long does it take to get set up?

24 hours. Once we exchange information and sign the agreement, we can get your database set up and give you access to our secure web link within 24 hours, so we can begin the process of making loan selections and receiving files as soon as you are ready. Contact Us or Schedule a Demo to learn more.

How do I sign up with ADFITECH?

All you have to do is sign the Agreement for Mortgage Quality Control Services and the Confidentiality Agreement, which spells out the responsibility of both parties in collecting and using consumer information for mortgage audit purposes. You are NOT committed to a long term agreement or obligated to a minimum number of loan reviews each month. That is up to you. To proceed, contact us.

Is the mortgage audit Agency Specific?

Yes. Our loan level covers Fannie Mae, Freddie Mac, FHA, VA and USDA Mortgage Quality Control requirements. However, we have experience in Reverse, Fix & Flip, Seasoned, Non-QM, Jumbo and other products.

How often should a mortgage audit be performed?

Monthly. It is recommended and dictated by most of the agencies that a QC audit be performed on a monthly basis. Current investor guidelines require selections to be completed within 30 days of closing and the audit must be completed within 60 days of selection or 90 days of closing.
Doing the mortgage audit on a monthly basis will give you the information you need in a timely manner to correct errors in processing and give your employees the training they need to succeed. It is necessary for you to deliver the loan data and loan files to QC in a timely manner in order to keep you in compliance.

What are your turnaround times?

ADFITECH would like to have four to six weeks to complete a comprehensive review. This would allow time for all the re-verification and field appraisal reviews to be returned and analyzed. Our target is to return results within thirty to forty days of receiving the complete set of loan files.

What is a defect rate?

The significant defect rate is the percentage of loans with four or five rated errors.

Do you complete desk reviews of the appraisal and order 10% field review appraisals per HVCC QC requirements?

Yes. ADFITECH performs a desk review appraisal on every loan which meets HVCC requirements, and we track and order the necessary Field Appraisals on 10% of the Q.C. review population. The desk appraisal review is included in our per-file cost and we only pass along the actual third party cost of the field appraisal review to you.

Do you complete Federal and State high-cost testing?

Yes. ADFITECH includes a Federal High Cost analysis in every loan review and we can order State-Specific High Cost testing from a third-party vendor for an additional fee.

Do you perform a compliance review?

Yes. All ADFITECH loan audits include a comprehensive Mortgage Compliance Review. All disclosures are checked for accuracy and completeness and the Closing Disclosure is reviewed and recalculated.

Do you send out re-verifications?

Yes. Using the information provided in the loan file, ADFITECH will re-verify all employment and asset information, by mail, fax, and telephone. ADFITECH will order the necessary credit reports and field appraisals.

Can I deliver the files in an electronic format?

Yes. Files and loan data can be uploaded directly to our secure website, delivered via SFTP, or provided to us on a disk. ADFITECH also accepts hard copy files, which will be converted to images upon receipt.

Can I get access to the actual loan file from the website?

Yes. ADFITECH offers clients the ability to retrieve entire loan files from the website. Supporting documentation (i.e. Review Appraisals, Occupancy Inspections, Public Records Searches, Re-verification Mail, etc.) is also available on the website. These images are available for 3 years from the time the review is completed for active clients.

Can I get reports in electronic format?

Yes. ADFITECH offers a wide variety of reports which can be opened in an Excel spreadsheet. Please don’t hesitate to ask for custom reporting which can typically be developed at no extra cost.

How do I view my reports online?

After you log into the system, you will be taken to the Dashboard page. There are various ways to view online reports. The Loans page allows you to view the QC findings and images for a specific loan. The Classic Reports page allows you to generate PDF reports of the current QC Results in real-time. The Findings page allows you to respond to individual QC findings and generate Interactive Reporting to track initial (gross) and final (net) defect rates as well as defect category trending. Still have questions? Email Us

What does it cost?

Our simple, per-file pricing eliminates the need for long-term and minimum contracts, enabling ADFITECH to operate as your company’s full-service quality-control provider. To learn more, contact us and schedule a demo.

What is an EPD review?

EPD stands for Early Payment Default. These are loans that go into default within the first six payments, or are 60 days delinquent within the first twelve months.
Early Payment Default loans that become 60 days past due must have reviews completed within 45 days from the end of the month in which the loan is reported as 60 days past due.

Is the audit agency specific?

Our Mortgage Due Diligence processes are Rating Agency reviewed, and use leading technology to conduct QM/ATR testing. We can complete Bulk or Flow Purchase Reviews on-demand to meet individual engagement specific requirements.

Are you approved by the Rating Agencies?

Yes. We are reviewed by 5 rating agencies:

1. S&P
2. Kroll
3. Moodys
4. Fitch
5. KBRA

What are your turnaround times?

Turnaround times will vary depending on the scope of the review and sample size requirements of the portfolio. For more information, schedule a demo.

Can I deliver the files in an electronic format?

Yes. Files and loan data can be uploaded directly to our secure website, delivered via SFTP, or provided to us on a disk. ADFITECH also accepts hard copy files, which will be converted to images upon receipt.

Can I get access to the actual loan file from the website?

Can I get access to the actual loan file from the website? Yes. ADFITECH offers clients the ability to retrieve entire loan files from the website. Supporting documentation (i.e. Desk Review Appraisals, Occupancy Inspections, Public Records Searches, Re-verification Mail, etc.) is also available on the website. These images are available for 3 years from the time the review is completed for active clients.

Can I get reports in electronic format?

Yes. ADFITECH offers a wide variety of reports which can be opened in an Excel spreadsheet. Please don’t hesitate to ask for custom reporting which can typically be developed at no extra cost

How do I view my reports online?

After you log into the system, you will be taken to the Dashboard page. There are various ways to view online reports. The Loans page allows you to view the Mortgage Quality Control Review findings and images for a specific loan. The Classic Reports page allows you to generate a PDF report of the current QC results in real-time. The Findings page allows you to respond to individual QC findings and generate Interactive Reporting to track initial (gross) and final (net) defect rates as well as defect category trending.

What does it cost?

Our simple, per-file pricing eliminates the need for long-term and minimum contracts, enabling ADFITECH to operate as your company’s full-service quality-control provider. Click here to contact our sales team or request a demo!

How often should an audit be performed?

Monthly. It is recommended and dictated by most of the agencies that a QC audit be performed on a monthly basis. Current investor guidelines suggest selections to be completed within 30 days and the audit must be completed within 60 days of selection. Doing the audit on a monthly basis will give you the information you need in a timely manner to correct errors in processing and give your employees the training they need to succeed. It is necessary for you to deliver the loan data and loan files to QC in a timely manner in order to keep you in compliance. Learn how we can help you succeed by scheduling a demo.

Is the audit agency specific?

Yes. All ADFITECH audits are Agency and Investor specific. Our Servicing Quality Control reviews are designed to cover operational and servicing practices for compliance with Investor, State, Federal and CFPB requirements.

What are your turnaround times?

30-40 days from the receipt of the loan images selected for review.

Can I deliver the files in an electronic format?

Yes. Files and loan data can be uploaded directly to our secure website, delivered via SFTP, or provided to us on a disk. ADFITECH also accepts hard copy files, which will be converted to images upon receipt.

Can I get access to the actual loan file from the website?

Yes. ADFITECH offers clients the ability to retrieve entire loan files from the website. Supporting documentation (i.e. Review Appraisals, Occupancy Inspections, Public Records Searches, Re-verification Mail, etc.) is also available on the website. These images are available for 3 years from the time the review is completed for active clients.

Can I get reports in electronic format?

Yes. ADFITECH offers a wide variety of reports which can be opened in an Excel spreadsheet. Please don’t hesitate to ask for custom reporting which can typically be developed at no extra cost.

How do I view my reports online?

After you log into the system, you will be taken to the Dashboard page. There are various ways to view online reports. The Loans page allows you to view the QC findings and images for a specific loan. The Classic Reports page allows you to generate a PDF report of the current QC Results in real-time. The Findings page allows you to respond to individual QC findings and generate Interactive Reporting to track initial (gross) and final (net) defect rates as well as defect category trending.

What does it cost?

Our simple, per-file pricing eliminates the need for long-term and minimum contracts, enabling ADFITECH to operate as your company’s full-service quality-control provider. Click here to request a demo and learn more about our pricing!

Is the audit agency specific?

Yes. All ADFITECH audits are agency and investor specific. We can also customize the audit to include your internal guidelines and fit your needs.

What are your turnaround times?

Results will be available on our website within 2-3 business days.

When should I submit a pre-funding review file?

The pre-funding loans should be selected and submitted daily from your “clear to close” pipeline.

Do you send out re-verifications?

No. There are no requirements to re-verify income and/or asset information in the Pre-Funding Quality Control review. However, ADFITECH will attempt a verbal verification of employment to determine if the borrower is employed prior to closing.

Can I deliver the files in an electronic format?

Yes. Files and loan data can be uploaded directly to our secure website, delivered via SFTP, or provided to us on a disk. ADFITECH also accepts hard copy files, which will be converted to images upon receipt.

Can I get access to the actual loan file from the website?

Yes. ADFITECH offers clients the ability to retrieve entire loan files from the website. Supporting documentation (i.e. Review Appraisals, Occupancy Inspections, Public Records Searches, Re-verification Mail, etc.) is also available on the website. These images are available for 3 years from the time the review is completed for active clients.

Can I get reports in electronic format?

Yes. ADFITECH offers a wide variety of reports which can be opened in an Excel spreadsheet. Please don’t hesitate to ask for custom reporting which can typically be developed at no extra cost.

How do I view my reports online?

After you log into the system, you will be taken to the Dashboard page. There are various ways to view online reports. The Loans Page allows you to view the mortgage quality control findings and images for a specific loan. The Classic Reports Page allows you to generate pdf reports of the current Mortgage QC Results in real-time.
The Findings Page allows you to respond to individual Mortgage QC findings and generate Interactive Reporting to track initial (gross) and final (net) defect rates as well as defect category trending.

What does it cost?

Our simple, per-file pricing eliminates the need for long-term and minimum contracts, enabling ADFITECH to operate as your company’s full-service quality-control provider. Click here to contact our sales team or request a demo!

How do we access the document images?

You will access the images over the internet via our secure website. You will be assigned a user ID and you will be able to access your images after clearing security.

How long do you keep our document images?

We will keep the images as long as you are a client or until you specify we remove the images.

Do I have to purchase expensive software or hardware?

No. ADFITECH owns and maintains all the necessary hardware and the proprietary LOANVAULT® imaging software at our location. You just deliver the loan file to us and we take care of the rest.

Who do we contact if there are technical issues?

After you become a client, you will be assigned a Customer Service Representative, who will become your main point of contact. Often times the CSR will be able to resolve your problem immediately. If not, our IT staff is available to pinpoint any trouble and eliminate it. Are you an active client who is not sure who your CSR is? Email Us

What are your turnaround times?

In most cases, we try to have all loans audited and in the repository within 2 business days of receipt.

What happens to the files after ADFITECH receives them (shred, store, how long, etc.)?

Once the file has been scanned we will hold the paper file according to your wishes. We can permanently store the file in a storage facility or we can have the file shredded after a certain period of time.

What type of reporting can we provide?

We can provide your company daily and weekly reports that track our progress as we work the files. We can also send reports detailing the errors found in the loans. We have reports that will fit your specific needs. Schedule a demo to learn more by clicking here.

Do you track final docs?

Yes, we track and retrieve final docs on your loans.

Who follows up on NORs?

ADFITECH will attempt to resolve HUD NOR files ourselves. The loan is thoroughly reviewed to identify any discrepancies before the file goes to HUD.

Who follows up on Investor stips?

ADFITECH will attempt to resolve any issues the investor finds in the file. The loan is thoroughly reviewed to identify any discrepancies before the file is shipped to the custodian.

Do you prepare HUD Case Binders?

Yes, we prepare the HUD Case Binder and ship it to the correct HOC.

What does it cost?

ADFITECH charges on a per-file basis and bills monthly for files delivered. The cost per file is determined by several factors. Contact us today for more information and let us customize a tailored program to meet your needs!

Do you accept paper files or images?

Both. When we receive paper files we scan the file and then index the documents out to make them easier to view. When we receive image files we import those into our system and index out the documents as necessary. Either way, you can view the file on our secure website.