Crosby Understands the Complexities of Mortgage Contracts in Today’s Environment.

In addition to the endless myriad of compliance regulations, mortgage audit experts are often faced with the added challenges posed by sophisticated fraudsters.  As a result, strict due diligence has become vital to the mortgage compliance process.

Banks, lenders, financiers, insurers and government agencies are increasingly looking to consultants to assist in protecting their investments by working with professional mortgage auditing services. With over a decade of experience in mortgage analysis, we’ve gathered all the tools to handle any type of mortgage loan file.

Crosby’s mortgage auditing services include:

  • Post closing mortgage audits
  • Mortgage fraud review
  • Compliance review
  • Loan quality control
  • Pre close file review *

Post-closing Mortgage Audits

Crosby’s post-closing quality control includes a thorough audit of every critical document within the loan file. By re-verifying the mortgage file, our team ensures that all complex guidelines required by federally backed institutions such as Fannie Mae, Freddie Mac, and the FHA, as well as private investment banks and hedge funds have been followed to the letter.

Crosby’s mortgage loan file audits include:

  • Review of credit reports
  • Appraisal check
  • Strict scrutiny of all documents in the hands of the mortgage underwriter
  • Examination of Final Truth-in-Lending Statement

Though we are most often charged with the task of post-closing loan audits, we will under certain circumstances agree to a pre close file review. For financial institutions seeking our assistance in these matters, Crosby’s auditing team will implement all methods of review characteristic of a post closing audit to reduce the chances of error and fraud and to increase the level of accuracy prior to loan closing.

Mortgage Fraud Review

Our mortgage fraud review team targets:

  • Prevention 
  • Loss mitigation 
  • Repurchase issues using public and licensed databases 

Mortgage fraud is one of the fastest-growing white-collar crimes in the United States, according to the FBI. Fraud for housing represents 20 percent of all fraud in this country. More than $10 billion was fraudulently taken from lenders in 2010. It is risky business to lend money in this type of environment – unless you have the right mortgage consulting team on your side.

Crosby specializes in identifying the misstatements, omissions and misrepresentations that commonly reveal attempts by scam artists to make victims out of world-renowned financial institutions. No loan document will pass our quality control until we have re-verified the transaction participants, employment records, assets, tax information, credit reports, bankruptcy papers, occupancy status and other critical documents that contain such clues.

Compliance Audits

Federal and state regulations can be burdensome, especially when they are changing all the time. Our legal counselors track changes in all 50 states and keep our mortgage auditors updated so they can streamline your loan process. We maintain the latest mandates and lending guidelines from Fannie Mae, Freddie Mac, VA, FHA and other government sponsored entities.  We do the same with regard to the individual requirements set forth by private financial institutions.

Crosby’s regulatory compliance audits provide superior supervisory guidance and eliminate any servicing practice gaps before issues arise.

Mortgage Loan Quality Control

Crosby’s team of professionals have decades of experience auditing loan files for a wide ranging clientele, and we are extremely proud of the results we have consistently delivered  since our company’s founding in 2001. Our auditing services are intended to preserve the highest level of quality control for any lending institution.

Armed with the latest, proprietary technology, legal experts, and senior mortgage underwriters, we are confident in our ability to help your company create a more robust auditing system that will perform not just to requisite industry standards, but to your very personal standards of excellence.

Our quality control plan includes: 

  • A clearly defined purpose for audit 
  • An identified project manager and point person
  • Delineating the scope and boundaries of any mortgage audit
  • Superior documentation and reporting capabilities
  • Follow-up with plan of corrective actions and go-forward positions
  • Continuing education for professionals in the dynamic industry of mortgage loan review

Crosby’s mortgage auditing services help investors, banks and government sponsored enterprises mitigate the relative risks inherent in the industry. To learn more about partnering with our team of mortgage experts, contact us at 301.585.3105.