|
October 22, 2008 ( PowerHomeBiz
) - Salt Lake City, UT --
Banks, brokers, and lenders are feeling the scare in the economy with less
business than usual. Now, investors and larger institutions want to see more
quality control with each loan. Some institutions want to see a 10% file
audit completed on conventional loans as well as FHA loans. The more intense
the scrutiny on each loan file, the better loans this country will have from
here moving forward.
(news continued below)
Mortgage Compliance Advisors, LLC fields’ compliance calls each day
assisting any broker, lender or bank with their compliance needs; Mortgage
Compliance Advisors, LLC provide a bi-weekly mortgage compliance newsletter
that covers different changes in rules and regulations that pertain to the individual
broker or lender. “These brokers are trying to stay in compliance with the
new rules coming from FHA/HUD. Most of them have questions regarding their
required 10% file audits, quality control plans, and mortgage compliance.
This is our specialty.” –Craig Christensen, principal at Mortgage Compliance
Advisors, LLC.
Post closing file audits have provided a better view for
investors and brokers to look at the files moving through their business. It
has helped the quality control of their business as well as giving them a
management report that shows the findings in each loan. The management
report is sent back to the broker or lender for their review and
progression. As more companies focus on their mortgage quality control and
mortgage compliance, the better the mortgage industry will get.
Individual
quality control plans that include the required 10% file audits and FHA
regulations will guide the FHA/HUD lending community in the right direction
for the future. Mortgage compliance has never been so useful to the mortgage
industry to help quality loan files move forward.
About Mortgage Compliance
Advisors, LLC (MCA):
MCA was founded on the premise of providing mortgage
brokers, retail lenders, wholesale lenders, and banking institutions of all
sizes with a sound alternative for meeting their mortgage compliance needs.
MCA’s principals, Bob Warnock and Craig Christensen, have a combined sixty
years of experience in the mortgage industry. Thirteen years of Bob
Warnock’s thirty-five year career in the banking and mortgage industry were
spent at the Salt Lake City HUD/FHA office, first as an underwriting
specialist, then branch chief over underwriting and insuring, and finally as
Field Office Chief with responsibility to oversee lender approval,
underwriting, insuring and the assignment program. Much of Craig
Christensen’s 25 year career has been in management positions with national
retail and wholesale lenders.
Contact Info:
Brandt Page-
Director of Sales & Marketing
5505 South 900 East, Suite 110 Salt Lake City, UT 84117
Phone: 801-649-6038 - Fax: 801-264-0301 bpage@mortgagecomplianceadvisors.com
http://mortgagecomplianceadvisors.com
|
