4. Post-closing Audits Our mortgage quality control service includes a full and complete audit of each loan file. Our auditors use a comprehensive audit checklist that complies with quality control guidelines as set forth by FNMA , FHLMC , FHA & VA . We also will tailor our checklist form to include any special documentation that is unique to your business. Our audits include a re-verification of credit documents, ordering of credit reports and a field or desk appraisal review, a thorough review of the underwriting decision and supporting documentation, and a complete audit of all closing documents including a recalculation of the Final Truth-in-Lending Statement. Our report package includes reports and an Executive Summary , which will provide you with all the information you need to properly evaluate your loan origination process. Our goal is to email the report of our findings to you within 60 days from the date we receive your loan files.
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6. Pre-funding Audits This program is designed to provide pre-funding quality control audits in order to reduce errors, prevent fraudulent loan transactions, and property overvaluations. By utilizing a variety of on-line fraud prevention and identification tools along with various internal quality control procedures, UHS validates the authenticity of the loan application data, and a property valuation with a 24-48 hour turnaround time. While no one can guarantee that all fraudulent transactions will be detected and prevented, this program provides significant and timely information to lenders as a tool for making underwriting decisions.
7. On-site Simulated HUD Audit Every lender should consider a Simulated HUD Audit for its operations, records management and quality control process for several reasons . First, internal records and quality control audits are essential to ensuring your organization is following its internal standards and practices – and can prove it, if required, to external auditors from HUD/FHA or any other regulatory agencies. Second, they are essential for complying with your organization’s regulatory or oversight bodies and to ensure your organization’s operations and quality control process are meeting regulatory criteria and the recordkeeping is legally defensible.
8. 1. Establish standards of good practice 2. Measure current practice 3. Analyze and give feedback 4. Recommend and implement change 5. Re-evaluate practice Best Practice UHS’s simulated audit can contribute to improved business processes – not just within the company operations itself, but within the business units responsible for their job functions and most importantly, we will audit your records management policies, practices, systems, and quality control process, you’ll automatically be prepared for virtually any external audit scenario. On-Site Simulated HUD Audit
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12. Condo Project Approvals Existing Condominiums / Recertification Condominium Conversions / Annexations New Construction Condominiums
13. UHS Staff has worked for FHA and served the mortgage industry for over 20 years. We bring experience , innovation and our vision to a constantly changing industry, assuring our clients a solid and prosperous partnership Experience Innovation Vision
