Approved? Denied? Verified.

Defensible decisions
Improved Assurance

Loan Modification Audit and QC

In this market, every incorrect loan modification decision is one too many.

We understand. Today, modification decisions require unprecedented levels of accuracy and transparency. With the growing challenges of potential litigation, financial risk and, most important, reputational risk, you need solutions to improve your compliance, reduce your risk and help ensure you've made the correct loan modification decision.

Employing technology and skilled resources, we provide objective, independent third-party quality control audits for all types of loan modifications, including Home Affordability Modification Program (HAMP), FHA and proprietary modifications following investor-specific guidelines.

Our independent third-party reviews help you:

Validate that decisions are well supported by independent audits
Reduce the likelihood of legal and regulatory action
Substantiate your efforts to assist borrowers in distress
Help reduce redefaults by borrowers currently in trial
Monitor internal processes and make needed corrections quickly
Perform a preemptive audits in advance of a Treasury Department “Second Look” review
Free up resources and reduce the workload of already overburdened staff
Establish a systematic queue for channeling distressed borrowers who do not qualify for loan modification into short sales, deeds in lieu, or other workout strategies
Implement an objective, cost-effective method to achieve ongoing quality control

Find out how we can help you reduce your legal and reputational risk.

Let us contact you today.

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honeyPot

Loan Modification Audit and QC

The solution for verifying, maintaining and improving loan modification quality.

Our detailed audits verify that policies were adhered to and procedures followed by reviewing the loan modification cycle from solicitation to the present state. Following your modification guidelines and business rules, we perform client-specific audits on four categories: trial modification denials, in-process trial modifications, trial-to-permanent modification denials and completed, permanent modifications.

Further, we can provide customized audits for any and all modification programs to enable you to further reduce risk and improve program compliance.

Typical audits include:

Trial modification denial audit – These audits verify denial decisions by reviewing all loan-file documents, including borrower-submitted information, income, credit, property and ratios against program guidelines to confirm and report on the reasons for denial.
In-process trial modification review – During the trial period, we can help you assess the modification’s probability of conversion to permanent status. By reviewing payment performance and timeliness, loan package completeness, current credit report, and recordation status we can help you anticipate and plan potential action prior to re-default.
Trial-to-permanent modification denial audit– Modifications approved for trial but denied permanent status are prime targets for lawsuits and regulatory review. This audit validates the original trial approval by examining loan-file documents, analyzing trial performance and payment timeliness, and verifying that the reasons for denying permanent status adhere to program guidelines.
Permanent modification audit – Completed after conversion from trial to permanent modification, audit includes review of loan-file documents, decision reasoning, loan package completeness, status of required recordation, and present-day performance status.
Custom audits – Driven by your criteria, custom audits allow you to look at specific issues, time periods, employees, or other areas of interest.