Representative Engagements

After receiving a CFPB memorandum of understanding (MOU), one of the nation’s largest independent mortgage originators and servicers engaged CrossCheck, upon CFPB non-objection, to conduct a look-back review of several thousand loan modifications made over a two-year period. CrossCheck reviewed each modification to determine if fees assessed and cash contributions granted as part of the approved loan workout were calculated and disclosed properly to the borrower. Detailed reporting, including identifying refunds to affected borrowers, was provided to the CFPB. As a result, the client was able to complete required remediation and satisfy CFPB expectations in a timely manner.