Representative Engagements

A large regional bank that purchased a portfolio of second-lien loans on a servicing-retained basis was concerned that the original underwriting was not as represented and was dissatisfied with the servicing. CrossCheck reviewed the loan origination and servicing contracts to assess each party’s rights, including repurchase and servicing transfer, and performed a thorough review of the origination and servicing files. We provided opinions regarding servicing in accordance with the contract and industry-standard practices. We also evaluated underwriting exceptions, compliance issues, and misrepresentation. As a result, the client was able to negotiate a favorable settlement and transfer the portfolio to another servicer.