Post-Closing Review

Key Benefit that Client Derived: More loan sales, faster acquisition timelines and less repurchase risk

INDUSTRY LANDSCAPE

In today’s credit and regulatory environment, industry participants face many challenges in the ever changing marketplace, including more stringent requirements on borrower qualifications, enhanced oversight by regulators and constant compliance updates increasing the complexity of each transaction. Given the potential for severe penalties and delivery expenses, Opus CMC can help you navigate through this changing landscape by providing accurate and actionable loan review analyses to help greatly reduce your buy-back risk, ensure acquisition of quality mortgage loans, and help improve your delivery timelines while reducing your acquisition costs.

Our staff experience and state-of-the-art systems, along with depth of agency expertise, provide the confidence you need to know your loans meet the requirements for purchase, sale and securitization. See how we helped one client establish themselves as a whole-loan acquisition market leader.

CLIENT PROFILE

Direct GSE Lenders/Securitizations and Whole Loan Mortgage Bankers

SCOPE PROVIDED

Comparing the loan file documentation to the specified guideline requirements
Re-calculating LTV, CLTV, income, liabilities, and debt-to-income ratios (DTI) and comparing to specified guideline requirements
Analyzing asset statements in order to determine that funds to close and reserve requirements meet guidelines.
Examine income, employment, assets and occupancy status for reasonableness.
Regulatory compliance evaluation including high-cost, RESPA, ECOA and other federal and state compliance laws.
Review of legal documents to the final approved loan terms and product type
Loan documentation inventory review to include review of final loan documentation and agency required specific loan documents
Regulatory Compliance Including: QM/ATR, TRID, Municipal, State and Federal anti-predatory lending, High Cost Testing

Results

Increased loan acquisition volume without added staff overhead costs
Scalability for multifold growth in origination volumes and correspondent clients
Increased seller client satisfaction by improving loan acquisition timelines
Significant reduction in loan delivery “buy-back” risk after acquisition

“We have relied on Opus CMC to mitigate our risk for several years and they continue to be the most reliable vendor compared with their peers. They have helped our firm exceed our whole-loan acquisition goals and greatly reduced our delivery exceptions and repurchase risk. Opus CMC has become an excellent partner to our firm and is a leader in the mortgage due diligence marketplace.”