LCG Quality Control is an affiliate of LendersCompliance Group, the first mortgage risk management firm in the country.
All mortgage loan audits performed at our secure facilities. We provide detailed quality control reviews.
Auditors evaluate each sampled loan file to determine whether the file meets applicable agency and program guidelines including, but not limited to: Fannie Mae, Freddie Mac, FHA, VA, USDA/RHS, FHLB, HECM, and HELOCs.
Core audit processes include:
- Random and targeted file selection using statistical, fixed, and discretionary protocols.
- A file documentation review.
- A compliance review.
- An underwriting review.
- A desk appraisal review.
- Re-verification of file documents generated by third-parties.
- A data integrity review.
- Obtain tax transcripts, as applicable, and compare them to the income documents in the file.
- Obtain a review credit report, as applicable, and compare it to the credit report in the file.
- Obtain a field appraisal review, as applicable.
- Summarize findings into a Credit Risk Analysis.
- A unique summary report for each audited loan file.
- Summary and detailed management reports that provide a comprehensive overview of all audits with current and historical trend analysis.