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Compliance and Quality Control
Clayton offers a number of solutions to mortgage-banking companies that are
currently originating government, conventional, and / or proprietary mortgage
loans or are considering entering the mortgage origination market. Clayton’s
analysis, training, and quality control offerings can be tailored to fit the
specific needs of each client. Clayton Consulting has extensive experience with
the required origination processes of Fannie Mae, Freddie Mac, FHA, VA, as well
as with proprietary loan programs. Clayton understands the people, processes,
and systems necessary to successfully manage the origination of these types of
loans.
Suite of Services
Governmental Agency and Government Sponsored Enterprise Readiness & Compliance
Review
- Assess current loan programs to ensure compliance with Fannie Mae, Freddie Mac,
and FHA guidelines and potential audit readiness.
- Review servicing practices for compliance with Fannie Mae, Freddie Mac, and FHA
guidelines.
- Determine any “gaps” in servicing practices and recommend appropriate
remediation steps.
- Custom tailored reviews to meet the requirements of governmental agencies
or government sponsored enterprises.
Review of Internal Quality Control & Audit Functions
- Review and evaluate existing quality control procedures to include compliance
with required audits of FHA, VA, Fannie Mae, Freddie Mac, and institutional
investors.
- Counter-party or third-party vendor compliance reviews and / or creation of
ongoing counter-party audit processes.
- Evaluate existing quality assurance programs to ensure policies and procedures
meet industry best practices.
- Assess the timing and content of internal audit procedures to determine
effectiveness and efficiency.
Loan Origination Process Review & Compliance
- Assist in creating or modifying appropriate origination policies and procedures
to manage recent regulatory changes and legislative updates.
- Validation of updated origination processes or changes to policies and
procedures in response to various government-mandated loan programs.
- Review production processes to identify control issues or process gaps.
- Establish procedures to monitor and manage future changes to loan
origination criteria.
What is the Value-Add to Your Business?
- Consistent, third-party consulting team can be engaged to facilitate remediation
plans and on-going Quality Control testing.
- Mortgage industry subject matter expertise combined with consulting, project
management, and operational improvement experience in today’s mortgage loan
servicing landscape.
- Implementation of required policies and procedures and adherence to vital
compliance criteria for success in the residential mortgage industry.
- Customized consulting approach ensures client objectives are clearly understood
and realized throughout the project life cycle.
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