When your goal is quality assurance…QC Review guides you from pre-closing to beyond closing

New regulations and investor requirements make it critical for mortgage lenders to have processes in place that enable them to monitor loan quality throughout the entire origination process and beyond. QC Review offered by Credit Plus, Inc. enables you to do just that. Using QC Review, you can run quality assurance checks to meet your policies and procedures – and to ensure compliance with FHA/HUD, Fannie Mae, Freddie Mac, VA, and private investor requirements for prefunding analysis and post-closing audits.

Pre-Closing Services

QC Review takes each loan through a series of validations to ensure compliance, then provides a report detailing how the loan checked out and highlighting areas that need a closer look. Results are available the next business day, the fastest turn time in the industry.

  • Credit refresh or Undisclosed Debt Verifications for undisclosed debt
  • Verifications of assets
  • Review of the automated underwriting approval
  • Review of credit underwriting attributes (income, assets, liabilities, etc.)
  • Verification of compliance with lender guidelines and state and federal regulations
  • Custom or layered lender requirements for non-agency products (Non-QM, Portfolio, Consumer, etc.)
  • Real-time rebuttal access – Cure deficiencies required for CTC

Post-Closing Services

Once a loan has been funded and closed, QC Review performs both an automated and a manual audit on a portfolio of loans that you own or are looking to purchase. On average, these reviews are completed in just 30 days. In addition, ongoing portfolio monitoring is available. These reviews not only verify data, but use proprietary technology to compare documents for inconsistencies, omissions and compliance thresholds, such as dates.

  • Review 10% of each loan type of your closed loans, as required by Fannie Mae and Freddie Mac
  • Reverification of employment and assets, rent and lease
  • Review of the automated underwriting approval
  • Retrospective appraisal reviews
  • Audit reports
  • Occupancy checks
  • Exclusive technology allows comparisons of signatures, dates and other important details, clearly highlighting any
    inconsistencies and saving time over manual comparisons
  • Comprehensive reporting features and automated rebuttals make corrective actions simple and trackable
  • Batch updates available for servicing portfolios

Forensics review identifies data inconsistencies

Loans that have been underwritten in QC Review have exclusive Reps and Warranties insurance coverage included in the cost. The insurance is underwritten by an insurer rated A by A.M. Best and A+ by Standard and Poor's.

Lenders can obtain additional protection against repurchases for underwriting, fraud, compliance and appraisal issues through The Prieston Group’s Reps and Warranties Insurance program. Those who choose this optional program receive a Mortgage Operational Safety Assessment™ to compare their lending processes against their peers and provide feedback on ensuring compliance using industry best practices.

Much more than just credit…we’re Credit Plus

Call us at 800.258.3488 or click here to request more information.

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Knowledge Hub

Here you can find additional industry and Credit Plus news. Just click below for easy access to our many educational tools including brochures, flyers, white papers, videos, webinar recordings, etc. – and past and present news vehicles such as press releases and other media coverage.

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