Conference of State Bank Supervisors (CSBS) is currently sponsoring an initiative to standardize Lending Examination Formats (LEF) for depository and non-depository institutions for both state and federal supervised entities. What is Lending Examination Format (LEF)? Lending Examination Format (LEF) is the industry data standard for the e-exam process. It was developed by ComplianceEase and adopted…
When you take in hundreds or even thousands of new loans each month from originations, MSR acquisitions, or portfolio transfers, there is no such thing as a “little” discrepancy. Mismatches between mortgage data and the information in the loan file can create delays, add costs and prolong research cycles. Even performing due diligence or QC…
In a recent National Mortgage News survey, the three pain points most often identified by servicing executives as highly challenging include the following: Moving mortgage data from loan origination to servicing systems (21%) Archiving and auditing for compliance and customer contact (20%) On-boarding new loans or acquired portfolios (17%) Whitepaper Highlights Our whitepaper, Mortgage Servicing,…
Randomly auditing 10% of your mortgages on a post-close basis is required by Fannie Mae, Freddie Mac and the FHA/HUD. If this is news to you, you need to contact us immediately… What is news to many lenders is how implementing document-related best practices reduce post-close quality control (QC) findings, minimize non-compliance fines, slash operating…