We follow up with third-parties via phone and email to retrieve trailing documents such as mortgage or trust deeds, assignments, tax records, modifications, assumption agreements, mechanic's liens, UCC records, judgments, and more. Assignment, lien release, and final title policy issuance are all done only after completion of this process.
Work with title companies and brokers to review and assemble the final post-closing package. Review post-closing loan packages for accuracy and completeness. Evaluate whether the file meets your requirements so that the loan can be insured, sold, and protected against fraud. Prepare a shipping package per investor preferences.
We conduct a post-closing mortgage audit to address deficiencies that may have crept in. This is a critical step for mortgage post-closing and includes tasks such as verifying occupancy, addressing issues flagged by the underwriters, etc.
We register all approved loans with MERS (Mortgage Electronic Registration System) as part of our post-closing process. It is designed to track rights and ownership of mortgage loans.
Ensure complete compliance with underwriting requirements as mandated by Freddie Mac. Meticulously monitor the overall quality of mortgage production such as income and assets; re-verification of employment, comparison of signatures, initials and dates; review of automated underwriting approval; appraisal review; audit reports etc.
Review of all insurance, tax, and reserve requirements. Check that standards are upheld for reserves.