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Compliance

Quality Control Services

Post Close QC
Buildsworth offers a full suite of Mortgage Quality Control and Loan Review services. Our Quality Control services focus on the underwriting process to assure that loans were underwritten in accordance with the requirements set forth by the individual Investor. We review each loan to ensure that it has been underwritten as per Investor’s guidelines, that the loan quality is acceptable to the secondary market investors, and that the loan meets or exceeds the specific Investor requirements. Additionally, we verify the existence and accuracy of the documents that were used in the lender’s underwriting decision including, credit, assets, and appraisals in accordance with industry quality control standards. As part of our pre-engagement, we work with our Client to understand their needs and provide them with quality staff to meet those needs, but our work doesn’t stop there. We will work with our Client throughout the engagement to improve the process and thereby gain additional efficiency to lower their cost to underwrite loans.

Our Post-Close QC process includes:

  • Ensuring that all the documents are complete and compliant with Underwriting and Loan Processing rules

  • Perform an in-depth audit and analysis of each loan assigned, consistent with FNMA, FHLMC, FHA and VA requirements.

  • Re-underwrite the loan for Income, Credit, Asset and Appraisal to ensure the borrower qualifies for the loan and the value of collateral is supported. Ensure that the loan is underwritten in accordance with loan program guidelines and company standards.

  • Review Legal and Regulatory/Compliance documents for existence and accuracy.

  • Assess the accuracy of the data integrity in the use of Automated Underwriting Systems, such as: Desktop Underwriter (“DU"), Loan Prospector (“LP"), FHA Total Loan Score Card or similar AUS software.

  • Compare re-verifications of all Credit, Employment, Income, Asset and Appraisal for consistency with original documentation.

  • Maintain current knowledge of FNMA, FHLMC, FHA and VA loan programs, as well as regulatory compliance laws as they apply to mortgage transactions.



Purchase and Prepurchase Reviews

Forensic Reviews

Collateral Reviews

Loan Setup Reviews

Compliance Reviews

Component Underwriting