Question 1

How long has ADFITECH been in business?

Accepted Answer

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

Question 2

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

Accepted Answer

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 quality control services.

Question 3

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

Accepted Answer

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

Question 4

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

Accepted Answer

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.

Question 5

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

Accepted Answer

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.

Question 6

Can we send a test file for review?

Accepted Answer

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.

Question 7

What makes ADFITECH different from other Mortgage Quality Control vendors?

Accepted Answer

Customer Service. From the day you sign up, you will experience a level of customer service that is unparalleled in the industry. You are 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.  Learn More About Us

Question 8

How do you protect my customer’s private information?

Accepted Answer

ADFITECH has many layers of security in place to protect your customer’s private information.  A) ADFITECH begins by performing a thorough background investigation, including drug testing, on every employee before being hired.  B) ADFITECH’s location in Edmond, Oklahoma, is a controlled access facility, with state of the art, 24-hour video surveillance.  C) All reviews are performed on-site by full-time staff auditors. ADFITECH does not employ contract underwriters to review our client’s files.  D) 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.  E) The ADFITECH I.T. staff constantly monitors all email and data transmissions for viruses and breaches of security.

Question 9

Does ADFITECH have a SAS-70 or SSAE16?

Accepted Answer

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

Question 10

Can I get a copy of your financial statement?

Accepted Answer

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

Question 11

Do you carry liability insurance?

Accepted Answer

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 $200,000 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

Question 12

How long does it take to get set up?

Accepted Answer

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.

Question 13

How do I sign up with ADFITECH?

Accepted Answer

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.

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