Post-Close Mortgage Audits
UHS America is your proactive partner for originating quality loans while delivering exceptional service. The residential mortgage quality control service includes a full and complete Post-Closing Audit and re-underwrite of each loan file. Our highly experienced auditors conduct a comprehensive review that complies with quality control standards as set forth by Fannie Mae, Freddie Mac, FHA, VA, and USDA. In addition to this, UHS America will enhance the due diligence requirements to include any special documentation or requests that are unique to your business needs.
Random Selection – With years of experience in selecting loans for clients, our stratified or statistical random selection engine allows clients to practically select any parameters they desire. Our engine can be customized and tuned to meet your needs and can be changed from month to month, depending on your complex risk assessment.
Discretionary Selection – Based on your risk appetite, you may select your own targeted discretionary loans or provide UHS with specific selection parameters.
UHS audits reviews include a re-evaluation of all credit documents; pulling new QC credit reports, appraisal field when applicable, and desk reviews; thorough analysis of the underwriting decision and supporting documentation to include a complete audit of all credit and closing documents including a re-calculation of income, assets, TRID requirement along with a complete compliance review.
Reverification of Employment and Assets – UHS performs a thorough reverification process to diligently meet best practices. At a minimum, UHS will always attempt to contact each necessary entity at least twice and provide a comprehensive report to easily track the overall rate of return (ROR) and final results.
Post-Close Mortgage Audits & Quality Control Process Performed by UHS America
- Complete underwrite of the loan to affirm all guidelines set forth by the GSE’s have been met
- Validate Credit Report liabilities
- Verify the existence of the employer
- Re-calculation and analyze income
- Re-calculation of debt to income ratio
- Comprehensive review and re-calculation of assets
- Verification of Employment/Assets
- Comprehensive review of appraisal
- Validate CAIVRS and LDP/GSA Lists
- Compliance due diligence review, including the TILA-RESPA Integrated Disclosure (TRID) rule.
- Validate title vesting
- Identify any possible property flipping or value inflating (chain of title)
- Review documentation for potential Red Flags
QCIQ Interactive Rebuttal Process
Interactive Rebuttal – We have a solution that will improve the client experience during the cumbersome rebuttal process. With our new technology enhancements, you can control your exceptions by directly logging in to QCIQ, viewing all historical audit groups, mitigating exceptions, and generating reports. You will now have 24/7 access to your audit results and reports.
The Interactive Rebuttal Process streamlines the rebuttal process by allowing clients to respond and mitigate loan exceptions internally without the back and forth hassle that can interrupt reporting timelines. After we conduct a thorough audit review of each loan group, we will publish the initial results to the user’s portal. In turn, you will record your responses directly into QCIQ reducing the manual process of inputting responses on to a spreadsheet, gathering missing documents and then uploading the missing documents for an additional review.
Our senior management experts will continue to provide the best-in-class support to validate or discuss findings.
Withdrawn or Denied Audit Review
HUD requires strict regulations when a Mortgage is withdrawn or denied. The Mortgagee is required to comply with requirements for all the following agencies:
- FCRA
- ECOA, as implemented by Regulation B (12 CFR Part 1002)
- Must complete the Mortgage Credit Reject in FHAC
Our most seasoned compliance auditors review the withdrawn or denied loans to ensure the Mortgagee has met all agencies requirements.
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Reporting: The final UHS America Management Reports Package is hosted on the dynamic Microsoft Power BI platform. Our static reports maintain GSE standards nonetheless can be modified to your liking as requested. The interactive experience and multi-functionality allows data driven reports to properly evaluate your loan origination process.
UHS reports include the executive summary, trending reports, high level and loan level details, Areas of Responsibility (AOR), findings, and detailed Reverification reports.