Today’s ever changing environment requires an evolution from transactional loan level due diligence to a broad risk management strategy that encompasses the full asset life cycle. Opus CMC is committed to leading this evolution by adding deeper value through comprehensive strategic support.
With a continued commitment to innovation, quality, and customer service, Opus CMC continues to move forward with:
Technology upgrades designed to enhance data accuracy checks
Real-time reporting tools augmented with customized solutions
Scope covers pre & post qualified processes across mortgage life cycle
Opus CMC was built on a foundation of unsurpassed quality and customer service. Most of all, we recognize that a one-size-fits-all approach may not be the best solution for every business. Our experienced executive team works along with a talented group of mortgage professionals to find solutions for the most unique risk management projects. That’s how we provide meaningful value right from the smallest detail, to the largest global strategy.
Thrive in Tomorrow’s Technology
As a leader in third party reviews for over 20 years, our commitment goes beyond offering cost-effective or superior services. We are dedicated to creating a digital-first due diligence ecosystem–enriched by human expertise–to drive sustained growth for our clients.
● Scalable technology: Our disruptive technology-led solutions grow with your business, driving efficiency and delivering high-quality results while saving you time and money.
● Client-driven solutions: We take a holistic approach to solution development – understand the challenges across the value chain, make strategic technology investments, and design solutions tailored to your needs.
● Collaborative long-term approach: As your trusted partner, we work closely with you to identify gaps and uncover opportunities. Our mortgage experts develop custom solutions, ensure a smooth kickoff, manage change, and track outcomes to drive continuous improvements.
● Streamlined operations: By creating repeatable, transferable processes and automating solutions, we streamline operations and simplify complexity–all while ensuring rigorous security and compliance.
Leading-Edge Workflow Solution – Orchestrator
Our proprietary mortgage workflow solution Orchestrator seamlessly integrates your systems with Opus CMC systems, streamlining communication, transforming data, and accelerating time to market. By fast-tracking application development and ensuring seamless data exchange, Orchestrator empowers you to deliver unparalleled experiences and maintain market leadership.
● Text Insights Engine enhances speed and accuracy of complex reviews by extracting data from documents, images, and handwriting, reducing handle time by over two hours per loan.
● Nerve Center ensures seamless integration across platforms, including proprietary client transaction systems, saving time, money, and effort.
● EasyCal heightens efficiency with quicker, more accurate borrower income calculations and tailored recommendations, decreasing income review time by 100+ minutes per loan.
Outcomes That Move Your Business Forward
Improve accuracy and efficiency. Accelerate cycle time. Elevate the customer experience.
Up to 40%
Faster turn time
Up to 70%
Reduction in handle time per loan
Up to 50%
Reduction in securitization process time
Opus CMC’s reporting technology allows for robust and effortless reporting capabilities with real-time client accessibility. Hundreds of reports are available to accommodate the individual reporting needs of clients and counter parties. A dedicated reporting staff is available to handle all customization requests promptly.
Securitization Reporting (Meets requirements of all rating agencies)
● Loan level grading
● Exception Report
● Valuation Report
● ASF Report
● QM Report
● Supplement Report (Non-QM, DSCR)
● Payment History and Comment Review
● Modification Review
● Executive Narrative
● Redaction of reports
● ABS Form 15E
Benefits of Opus CMC Reporting:
● Dynamic & Customizable
● Crystal Report
● Microsoft SQL Server
● Reporting Tools
● Real-Time Reporting
● New client web application with real-time client accessibility
Our Reports Include:
● Asset Summary Report
● Data Discrepancy Report
● Exception Lists
● Standard Data files
● Executive Summary Report
Opus CMC’s quality is widely regarded as the best in the industry. One hundred percent of the loans underwritten are quality checked by Opus Quality Control Underwriters. This team is made up of our most experienced and knowledgeable staff. The reviewers from this team will re-validate any exceptions that were identified on a loan as well as audit various data points of the review. Our Quality control standards meet the requirements of all the major rating agencies.
A thorough review of any discrepancies between tape and audit data will be performed to ensure data integrity. The Quality Control Underwriters will ensure that all issues are fully articulated. They will also see that all of the applicable information is provided for full disclosure of all fact surrounding materially adverse findings.
Compliance isn’t magic, it is hard work and attention to detail. It is also not something to go at alone. If you are looking for a partner who can help you understand and comply with the regulatory requirements, Opus CMC may be your answer. Opus CMC provides mortgage loan file reviews which include the new Qualified Mortgage and Ability-to-Repay requirements in compliance with the new Consumer Finance Protection Bureau and HUD guidance. Opus can provide loan level compliance reviews as well as work with your staff to insure systems and operations are following your policies and procedures.
Our reviews include both Credit and Compliance or Compliance only review types and can be customized for client needs. We cover:
● Regulatory compliance review to verify the mortgage loan closed in compliance with applicable federal, state, and local anti-predatory lending statutes in effect at the time of origination
● Ability to Repay review for evidence the creditor considered and verified the eight (8) underwriting factors:
1. Income and assets
2. Current employment status
3. Monthly qualifying payments for the proposed loan
4. Monthly payment on any simultaneous loans
5. Monthly payment for mortgage related obligations for the proposed loans
6. Debts, alimony, and child support
7. Qualifying monthly DTI and/or residual income
8. Credit history
● Qualified Mortgage review of all available QM types including:
– Legacy QM
– Revised QM with APOR
– Agency QM
– Agency QM with APOR
– Government QM
● Regulatory compliance review in line with the most recently dated Structured Finance Association (SFA) TRID Compliance Review Scope
● TRID Review including:
– Eligibility
– Timing Requirements
– Tolerance Violations
– Loan Estimates
– Closing Disclosures
● Material compliance disclosures review set forth in Reg Z, including the Truth in Lending Disclosure and the Notice of Right-to-Cancel, if applicable
● Material disclosures review and comparison with a report outlining any TILA violations
● State High-Cost Testing
● Federal Higher Priced Mortgage Loan Testing including:
– Escrow requirements
– HPML appraisal rule
● Servicing Compliance Review
– Identify areas of potential regulatory risk based on current servicing procedures and practices
● Real Estate Settlement Procedures Act (Regulation X)
● Mortgage Disclosure Information Act (MDIA), as applicable
● Home Ownership Equity Protection Act (HOEPA)
● Home Mortgage Disclosure Act (HMDA)
● Equal Credit Opportunity Act (Regulation B)
● Fair Credit Report Act (Regulation V)
● National Flood Insurance Act (NFIP)
We also can discuss special services and consulting to augment your group and assist with oversight and implementations. We partner with our clients to ensure understanding of regulatory requirements and options and alternative procedures for compliance. Interested in learning more? Let’s start a conversation.
