In the field of mortgage risk mitigation, ensuring the integrity and quality of loans is paramount for lenders, investors, and servicers. Frasco® Mortgage Risk Mitigation, an investigations firm specializing in mortgage risk management, provides a range of essential services aimed at mitigating risks and safeguarding against fraudulent activities in the mortgage industry.
Services Offered by Frasco® Mortgage Risk Mitigation:
- Forensic & Fraud Reviews:
- Conducts in-depth investigations to identify misrepresentations and fraudulent activities in mortgage applications.
- Includes borrower interviews, verification of employment and income, source of funds checks, and more to prevent losses due to fraud.
- Due Diligence & QC Audits:
- Offers precise and cost-effective Quality Control Programs to assess loan quality and compliance with internal guidelines.
- Conducts sample selection, forensic fraud reviews, and policy and procedure evaluations to ensure adherence to program requirements.
- Loss Mitigation:
- Provides re-verification services for income, assets, and hardship reasons to identify misrepresentations during the loss mitigation process.
- Validates document accuracy in various scenarios like short sales, loan modifications, and foreclosures.
- Verification Services:
- Offers employment, income, asset, and credit verification services to meet pre-funding and post-closing requirements efficiently.
- Ensures thorough review and verification of loans to maintain loan quality and compliance.
Why Forensic & Fraud Reviews Are Essential:
Forensic and fraud reviews play a crucial role in mortgage risk mitigation by:
- Identifying misrepresentations and fraudulent activities in mortgage applications.
- Preventing losses due to fraud, ultimately safeguarding lenders’ portfolios.
- Ensuring loan quality and compliance with industry regulations and standards.
Impact of Forensic & Fraud Reviews on Mortgage Industry:
- Occupancy Verification:
- Crucial in preventing occupancy fraud by confirming borrower residency at the claimed property.
- Methods include desk reviews, site visits, utility analysis, interviews, and social media checks.
- Maintaining Loan Quality Control:
- Strategies such as pre-funding reviews and post-closing quality control audits are essential to verify documentation, income, and credit.
- Helps reduce default rates, minimize legal risks, and enhance customer satisfaction.
In a dynamic mortgage landscape where interest rates fluctuate and regulatory pressures persist, the role of forensic and fraud reviews in mortgage risk mitigation cannot be understated. By partnering with Frasco® Mortgage Risk Mitigation, lenders can proactively manage risks, ensure loan quality, and uphold industry integrity.
Contact Us Today
Frasco® Mortgage Risk Mitigation delivers ethical and efficient solutions tailored to your needs. Have questions or want to discuss your investigative needs further? Schedule a call with one of our experts today to find the answers you’re looking for.
Disclaimer: This blog post is for informational purposes only and should not be considered legal advice. Please consult your general counsel for specific legal guidance. Frasco investigators are licensed, and our operations comply with US industry, federal, state, and local laws.