Lenders Compliance Group®
Creating a Culture of Compliance®
MEMBER OF NATIONAL ORGANIZATIONS
ABA | MBA | NAMB | AARMR | MISMO | ARMCP | ALTA | IIA | ACAMS | IAPP | MERSCORP
Our suite of prefunding risk evaluation complies with all requirements of the Fannie Mae Loan Quality Initiative (LQI).
These audits are expected to provide information that should prevent closing mortgage loans with significant or material defects such as misrepresentation, inaccurate data, or inadequate documentation.
- Same Day Response coordinated with lender’s process flow
- Findings Report, per loan file, with full set of analyses
- Secure Digital Upload/Download or Direct Link to LOS
Includes Policy: Fannie Mae Prefunding – Loan Quality Initiative
Verification, Validation, and Audit Investigation
- Automated Underwriting System (AUS) Review
- Borrower Identity Verification
- Verification of Employment
- Validation of Social Security or Tax Identification Numbers
- DU “Potential Red Flag” Messages
- Validation of Qualified Parties to the Transaction
- Qualifying Ratios
- Borrower Credit – Undisclosed Liabilities
- Appraisal Validation
- Property Unit Number Validation
- Calculation of the LTV Ratio
- Manual Underwriting of DU Refer with Caution/IV
A hands-on process that validates the accuracy of the loan information, providing regular tracking, reporting, and trending along with opportunities for corrective action.