We specialize in a variety of investigative services to assist mortgage originators, insurers, investors, issuers, and servicers, looking to mitigate risk associated with a loan or making a purchasing decision.
Frasco employs a professional and experienced staff with varying backgrounds in the mortgage industry. Our reports are fully customizable and tailored to provide you with the specific information you need to make informed decisions.
Countless audits have revealed employment, income, asset/down payment, and occupancy misrepresentations, along with straw buyer and identity theft schemes. Lending institutions and mortgage insurance companies are unsuspectingly approving and insuring mortgage loans based on misrepresentation of information.
Our primary focus is to determine if misrepresentations exist, what false information was presented and by whom, and to prevent losses due to fraud.
Our mortgage audits typically include, but are not limited to the following:
Our Mortgage Due Diligence reviews are handled by experienced industry professionals who can examine mortgage loans to ensure they meet your requirements. Frasco offers a Quality Control Program that is precise, quick and cost-effective making the decision to outsource a simple choice. We specialize in assessing the quality of loans to show whether or not they comply with program requirements, federal and state regulations as well as internal guidelines, policies and procedures.
Frasco’s Quality Control Audits include any or all of the following:
Audit services that supplement any Loan Servicing Department revealing misrepresentations, relationships, and information that is undisclosed during the Loss Mitigation process. We re-verify document accuracy in short sales, loan modifications, deeds-in-lieu, and foreclosures.
Frasco allows our clients the ability to select services specific to each audit. The following are some of the services we offer to evaluate Loss Mitigation fraud:
Includes analysis of any or all the following aspects of the origination file:
Our verification services provide you with the ability to validate information about a borrower regarding their identity, employment, income, assets, public records and properties they possess. We can re-verify information from closed loans or as part of a pre-funding Quality Control process.
Some of the individual verifications we offer include:
Our certified real estate appraisers who are well versed on the requirements mandated by the Uniform Standard Professional Appraisal Practice (USPAP) and provide detailed valuation reviews prior to and/or post closing, which can confirm the validity of the real estate appraisal, as well as support or refute the appraiser’s value conclusion.
Our valuation team can provide the following services: