Flatworld Mortgage specializes in end-o-end pre-purchase review audits to weed out errors, identify fraudulent loan transactions, and avert property overvaluations. We bank on a robust quality control process and fraud prevention and identification tools to validate the authenticity of the loan application data and the property valuation in the shortest possible time.
Our pre-purchase review audits are performed to ensure compliance with all applicable rules, regulations, and laws as well as with lender, investor and agency guidelines. Our experts provide substantial and timely information for enabling critical decisions and ensuring all loans you process are saleable.
Our experts have profound experience in document reviewing and leverage it to monitor and evaluate the integrity of the origination process and flag inconsistencies with the correct recommendations.
We review loan files to verify accuracy of the information in loan files prior to funding (FHA / USDA / VA / Conv / Unconventional loans). Besides reviewing the files for borrower name, SSN number, employment credit score etc we run through critical aspects such as income and asset calculation, determine if comparable sales were appropriate, appraisal review checklist etc.
We carry out a full credit review of files to make sure agency and investor guidelines are met. Reviews are carried out in keeping with procedures as outlined by Fannie Mae and Freddie Mac guides, FHA, VA andUSDA requirements, specific client overlays / guidelines, as applicable
Our experts specialize in identifying loans with well-defined credit weaknesses. Accordingly, they assign the correct risk ratings to them. This makes your loan review system highly effective and also ensures timely action to minimize credit loss;
We receive and assess the loan files for completeness. We ensure all the documents necessary for closing are present. We run through every document which includes title policies, appraisal reports, letters of credit, insurance policies, releases, liens, forms, memos and other information related to the loan.
Our audit team consists of experts with sound knowledge of lending guidelines, practices and relevant laws and regulations. All our reviewers have a minimum 5 years of review experience of US mortgages and hence can provide a loan file review service that is not just comprehensive but also delivers critical and value-added findings.