Experience and Expertise
PHOENIX stands as a trusted partner in Mortgage Services, offering invaluable experience and expertise in Origination Quality Control. Our QC professionals conduct comprehensive reviews that not only adhere to regulatory and agency production guidelines but also identify areas of risk that could lead to a reduction in defaulted and repurchased loans. PHOENIX can customize production to meet all your specific needs, enabling you to allocate your time more effectively to internal policy matters. Our tiered pricing allows you to select your preferred level of service, all while maintaining personal contact with the department director and the reverifications manager.
Quality Control Services
Pre-Funding
Full re-underwrite of each loan to ensure qualification and adherence to compliance regulations prior to the loan closing, including appraisal validation, occupancy, identification, and red flag reviews. Report deficiencies specific to the loan, product, and AOR to assist in closing an accurate loan. Standard 24-48 hour turn time plus ability to accommodate rush requests.
Post-Close
Audit of all loan types, including documentation and procedures for compliance/TRID, underwriting, closing, and post-closing, as well as appraisal validation, occupancy, identification, and red flag reviews.
Early Payment Default (EPD)
Review of all non-performing loans, which can be customized to include product-specific questionnaires or investor stipulations.
Denied
Ensure compliance with all Fair Lending laws and regulations regarding denied and withdrawn loans, including the timely delivery of required documentation to the borrower.
Reverifications
Comprehensive reverifications for employment, income, assets, and collateral, which may also include ordering and handling of tax transcripts and field reviews. This service can be provided independent of other audit offerings.
GSE/Audit Assistance
Client assistance for agency audits, including MORA and HUD, to help provide required documentation, to resolve preliminary findings, and address internal deficiencies discovered during the process.
CLIENT CALIBRATION
Reporting
Provide detailed quality evaluation, expansive summary/trend reporting, and overall commentary on the mortgage production for our clients which includes all defect ratings and rebuttal communication as required by GSE’s.
Sampling
Can accommodate all sampling types including straight random, stratified random, statistical and discretionary sampling.
Questionaires
Each questionnaire is specific to the product and the need of the client, and are constantly reviewed and updated to meet the changing regulations and requirements specific to the industry.