CrossCheck’s quality assurance loan reviews are customized to each client to evaluate the quality of the client’s process from origination to closing. Our quality assurance consultants average over 10 years of underwriting and quality control experience. This experience allows us to not only identify issues with a loan file but to determine the root cause and offer specific resolutions or actions to be taken by the client. Our customized quality assurance solutions are constantly reviewed to ensure compliance with investor, agency, and regulatory requirements and to confirm industry standard adherence. CrossCheck’s auditing platform offers clients the ability to review findings in real time which allows the client to make quicker process changes and ensures timeline adherence.
The pre-funding review has become an integral component to the lender’s overall risk management program. Our pre-funding reviews are designed to meet all agency and investor requirements while also addressing specific internal policy and procedures for the client. Our pre-funding review consists of a full re-underwrite of income and assets as well as AUS data validation and regulatory disclosure completeness and accuracy. CrossCheck’s 24 to 48 hour turn time allows the client to mitigate processing issues identified quickly and to correct issues with specific files while avoiding closing delays. Our pre-funding auditors average over 10 years of underwriting experience. This experience helps our clients to identify potential fraud, to eliminate closing non-saleable loans, and to decrease their overall defect rates.
Post-closing quality control agency, investor, and regulatory requirements seem to constantly be changing in today’s residential lending climate. Our experienced staff is adept at monitoring these changes and the impact they have on post-closing file reviews and quality control plan requirements. From sample selection to re-verifications, CrossCheck’s customized post-closing file review process meets investor requirements while also providing loan level feedback that a client can use to identify training issues, policy revisions, and product deficiencies. We deliver preliminary findings within 30 days of receiving or being granted access to the audit file. CrossCheck’s compliance consultants provide a unique, experienced perspective our consumer loan reviews. This experience creates a robust, in-depth scope to the compliance portion of the post-closing review as well as our enhanced compliance reviews and adverse action audits.
All of our reports are tailored to the client’s specific needs and contain the data elements and trending required by investors and regulatory agencies. Clients are presented with a turn-key reporting package that can be provided to operations, executive boards, investors, and regulators.
- Early Payment Defaults
- Canceled/Denied Applications
- Compliance Reviews