SERVICING. QUALITY CONTROLLED
SQC PROVIDES SERVICING QUALITY CONTROL AUDITS
Servicing QC and Subservicer/Servicer Audits are what we focus on and do best. Our clients rely on us to perform QC on their servicing portfolio to ensure the subservicer/servicer are protecting their mortgage servicing rights assets. Fannie Mae, Freddie Mac, HUD, investors, warehouse banks, and the CFPB all require servicers to continually monitor and audit servicing compliance on a monthly or quarterly basis. We deliver a servicing surveillance solution to ensure you have the tools to effectively manage performance.
- Targeted audits based on our identified findings, regulatory examination findings, or servicer self-identified trending/findings, which require expanded auditing.
- Summary reporting of defect rates, trending, and exception grading.
- Consolidated trending to identify systemic issues and offer recommendations for remediation.
- Best practices and benchmarking shared from our experience auditing and observing servicing operations and practices of other servicers, as well as industry resources.
- Provide management recommendations and observations from some of the best and brightest servicing minds in the industry
- Consumer Complaints
- Customer Service
- Default Management (includes Collections, Loss Mitigation, Foreclosure, Bankruptcies)
- Escrow Administration
- FHA 203(k) Distribution Servicing
- Collections > 91 days delinquent
- Loss Mitigation/Late Stage Collections – 91+ days delinquent
- New Loans
- Periodic Statements
- Record Retention
- Servicing Transfer
SERVICER AND SUBSERVICER OPERATIONAL REVIEWS
AS OVERSIGHT REQUIREMENTS OF SUBSERVICERS CONTINUE TO INCREASE, SQC PROVIDES A SOLUTION TO ASSISTING CLIENTS WITH PERFORMING OPERATIONAL OVERSIGHT.
Through regularly scheduled evaluations, you are able to evaluate and measure progress and changes impacting servicing operations.
- Annual on-site reviews of your subservicer or servicing department to evaluate current processes, propose best practices, and offer solutions to mitigate risk.
- Operational due diligence by interviewing management and personnel, as well as conduct a walk-through of each of the operational areas to evaluate the control environment and security measures in place.
- Reassessment to compare current practices against the initial on-site review, measure progress since the last review, evaluate new initiatives and system enhancements to ensure compliance with regulatory requirements.
- Coordinated on-site reviews available for SQC to review your subservicer in collaboration with other clients, thereby, sharing the overall costs.