Lenders Compliance Group®
Creating a Culture of Compliance®
MEMBER OF NATIONAL ORGANIZATIONS
ABA | MBA | NAMB | AARMR | MISMO | ARMCP | ALTA | IIA | ACAMS | IAPP | MERSCORP
Our special operations unit is designed to bring down high defaults and claims, reflected in a high Compare Ratio. Through a structured program, the Compare Ratio Task Force®, we gradually work to diminish high compare ratios, HUD’s statistic that reflects a lender’s default and claims experience.
When a Compare Ratio is above 150: HUD begins a due diligence process to review the mortgagee’s default and claims experience.
When a Compare Ratio is 200 or more: the mortgagee is subject to possible disciplinary review, termination of underwriting authority, and loss of FHA mortgagee approval.
THE SOLUTION TO HIGH COMPARE RATIOS
OUR REMEDY
- Comprehensive review of existing defaults and claims for loss mitigation and loan modification eligibility
- HUD-FHA and regulatory compliance guidance for the mortgagee
- Notification to mortgagee of borrower’s loss mitigation eligibility
- Notification to borrower of loss mitigation eligibility
- Referrals to expert, nationwide legal counsel to handle loss mitigation and loan modification strategies
- Monitoring of loss mitigation applications in process
- Follow-up with mortgage servicers to assure proper and timely resolution and notification to HUD-FHA
- On-going review and loss mitigation of new defaults and claims
TASK FORCE DESCRIPTION
- Staffed with subject matter experts and skilled auditors
- Specially designed checklists and automated file screening systems
- State-of-the-art quality control, compliance, forensics, and modern research facility
- Scalable up to virtually any size default and claims experience
- Upload/download large file formats for prompt reviews
- Located in a secured and safe audit location