Delivering Streamlined, Cost Effective, and Fully Compliant Mortgage Due Diligence.

Our senior mortgage underwriters serve the needs of loan buyers, sellers, government sponsored enterprises and investors in financial institutions, investment banks, and hedge funds worldwide.

Mortgage due diligence is critical for preserving the integrity of the loan on the both sides of the deal. It is a tedious, time consuming, often time-sensitive, and costly process that can end badly unless it is done free of error. Partnering with Crosby’s team of mortgage experts helps to ensure both the rapid turnaround and accuracy that these transactions demand. Our process is enhanced by an unmatched level of quality control and internal auditing procedures that result in mortgage loan reviews you can count on.

Mortgage Due Diligence Services

Whether you are evaluating the quality of loans you are acquiring, or meeting the standards of secondary market investors, compliance with numerous state-, municipal-, and federal-level regulations is a crucial.

Crosby provides in-depth reviews of the credit, fraud, collateral, regulatory compliance, and data components involved in managing loans, while also re-verifying loan data to ensure truth in lending and loss prevention.

We have broad and proven experience supporting transaction management activities for our clients in the mortgage industry and are committed to meeting the obligations of secondary market investors as well. We conduct thorough loan file reviews for any loan your firm seeks to acquire. Crosby consultants typically conduct due diligence after closing, however we will conduct a pre close file review when needed, for added assurance that all requirements of compliance have been met.

Crosby verifies compliance with:

  • Internal lender processes, including underwriting criteria, policies, and procedures, as well as documents and procedures related to closing documents.
  • Government Sponsored Enterprise (GSE) regulatory standards, as well mandates at the state and federal level for Freddie Mac, Fannie Mae, and FHA/VA.
  • Property inspection and appraisal reports ensuring re-verification of third-party income and asset documents, underwriting process evaluation, and data integrity confirmation.

By working with applicable loan data such as the final HUD-1 Statement, Final Truth-in-Lending Disclosure, the Mortgage Insurance Certificate, and any special closing instructions, our team will identify and isolate any shortcomings or errors that require extra attention. 

We create an all-encompassing loan-level data breakdown that:

  • Protects against creating or purchasing high-cost loans - compliance
  • Minimizes risks associated with non-compliance by conducting audits in compliance with the more than 5,000 municipal, state, and federal mandates
  • Assesses rescission risk prior to close
  • Determines consumer disclosure accuracy
  • Audits against agency compliance guidelines (for example: GSE, HUD)

Our mortgage loan file audits are recognized industry-wide for their intuitive organization and consistent accuracy making Crosby an industry leader and the ideal collaborator for any lending institution.

Crosby also provides expert strategies to effectively avoid re-purchase risk. We use the same analytics utilized in GSE loss mitigation review, a proven re-purchase risk mitigation process that provides a complete pre close file review.

Quality Control 

Crosby’s highly trained underwriters possess a level of knowledge regarding both municipal and federal level laws, guidelines, and regulations that make us a standout among our competitors.  Our investigative work utilizes a proven risk mitigation platform that delivers deeper loan level intelligence than most mortgage due diligence companies are able to achieve.

Our auditing services extend to:

  • Document validation
  • Mandated employer level reviews 
  • Income and asset documentation review
  • Appraisal and credit report reviews 
  • Income, asset, debt, and cash flow analytics
  • Program requirement review
  • Fraud review

Our due diligence reporting is supplemented with both statistical and analytical models that further reveal potential credit issues, performance obstacles, future financial losses and possible gains.  To learn more about Crosby’s mortgage due diligence services and mortgage loan reviews, contact us at 301.585.3105.