Pre-Funding Mortgage Audits
The next generation of Mortgage Lenders requires an unprecedented level of checks and balances. UHS America is your proactive partner for originating quality loans while delivering exceptional service. The Pre-Funding Mortgage Audits are meticulously designed to reduce unforeseen errors, escalate preventive measures for detecting potential misrepresentation, and safeguarding against property over valuations.
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 – The loan files are selected randomly every few days once the “Prior to Doc” (PTD) conditions have been signed off and the file is at the “Clear to Close” (CTC) stage. The number of files selected depends on the number of approved loans. An additional discretionary review may be performed based on the client’s risk appetite, i.e. high LTV or DTI, self-employed borrowers, investment properties, new products, jumbo or manually underwritten loans and new employees or 3rd parties.
While no one can guarantee that all possible misrepresentation will be detected and/or prevented, UHS internal procedures provide significant and timely information to lenders as a tool for making underwriting decisions with a higher level of accuracy.
By utilizing an array of on-line fraud prevention tools along with various internal quality control procedures, UHS validates the authenticity of the loan application data, and a property valuation with a 24 to 48 hour turnaround time, allowing the client to cure any potential material issues prior to closing.
Early Payment Default Audits
Repurchases of Early Payment Defaults (EPD) can seriously harm your business and provide unnecessary distractions to your company goals. UHS can help lessen risks by helping ensure that you continue to meet Agency and HUD guideline requirements every month.
Flexibility and Speed – Outsourcing your EPD review process to UHS America will allow you to bypass the time it takes to build a team in-house and help you stay within the 60-day timeframe to respond to HUD.
Improve Efficiencies – Our comprehensive reporting can help you pinpoint areas for improvement within a specific area of responsibility, and help drive training needs or process updates.