Mortgage Quality Control
Expert Post-Closing & Compliance QC Audits to Ensure Confidence & Manage Risk
ADFITECH’s post-closing mortgage quality control audits meet the requirements of all major investors, including Fannie Mae, Freddie Mac, FHA, and VA. We have extensive experience with portfolio and non-QM products and our reviews are performed by our experienced staff of underwriters, compliance auditors, and appraisal specialists.
By Mortgage Professionals,
For Mortgage Professionals.
Our post-closing QC audits evaluate the following items:
The accuracy and completeness of the loan application
The existence and accuracy of the underwriting documents
The underwriting decision to confirm it is supported
The data entered into DU/LP or other Automated Underwriting Systems, if applicable
The property eligibility
Compliance with the mortgage insurer’s guidelines, and documentation of adequate mortgage insurance coverage
The existence and accuracy of legal and closing documentation
We strive to uphold our position as the leading mortgage quality control company by building long-term relationships with our clients that give them the confidence to navigate a changing industry and manage risk. To see how outsourcing to us compares to your in-house costs and other vendors, request a demo.
Mortgage Quality Control (QC) Plan
All of our clients have access to our customizable QC Plan which is accepted by all major investors.
Customized Loan Selection Process
Random, discretionary, and statistical sampling are included as part of the post-closing QC review process at no additional cost. ADFITECH will work with the client to establish customized selection criteria capable of representing the lender’s entire book of business.
Monthly post-closing QC reviews are always completed timely in order to comply with all major investor requirements.
Full re-verifications are performed on the borrower’s income, employment, assets, and credit history. Verification of owner occupancy is also included as part of the review.
Our proprietary software platform allows clients to respond to findings online and to track Net and Gross deficiencies. Comprehensive management reports are available that focus on defects and broad trends as well as identifying mortgage loans or items that need specific corrective action.
Our post-closing audit includes an expert review of each transaction and closing document for completeness, accuracy, and compliance to all underwriting and eligibility requirements. High-cost testing is also available utilizing the Mavent Compliance Service.
A bookmarked PDF is available for download containing the various documents needed to evaluate each loan-level review including items such as work papers, checklists, re-verification mail, QC credit reports, field review appraisals, and public records information.