QUALIMAE has been working with mortgage originators helping them produce and maintain quality mortgages in order to make their investors shine since 1994.
When a mortgage goes into default, especially in the first few months after origination an Early Payment Default review is required. This review of the origination process must be done in order for the lender to feel secure there is no misrepresentation or a pattern of misrepresentations and can report to his investors any important findings. These reviews are a little more extensive due to the sensitive timelines and consequences.
Quality Control Plan
QUALIMAE'S QUALITY CONTROL PLAN is revised periodically in order to stay up to date with any current changes in our industry. We always strive to meet your investor requirements. After 28 years of continued experience Qualimae knows the most important Requirements of a Great Quality Control Plan is that what is stated on the plan is fully Implemented on a regular basis. We can issue our Qualimae QC Plan which will help you with your investor approvals or Qualimae can help you design a QC Plan that is Customized to your company's specific needs or requirements.
Mortgage Pre-Funding Quality Control
Pre-funding quality control audits are a very important part of the mortgage origination process because it catches any discrepancies and assures mortgage loan quality before the mortgage is actually fully funded, therefore avoiding any potential serious problems later.One of the Founders Of Qualimae is the Inventor Of The Pre-Funding Quality Control Idea. QUALIMAE WAS THE 1ST COMPANY IN THE NATION TO PROGRAM AND DEVELOP A PRE-FUNDING QUALITY CONTROL PLAN.The Pre-funding quality control consists of an analysis of the income and liabilities used to qualify the borrower in order to make sure it is accurate. QUALIMAE will also perform a desk review of the property to determine if the value is aligned with the value stated. QUALIMAE also validates income and assets to ensure no misrepresentation is found. Our Pre-funding audits provide the client with an individual report for each file with any exceptions found in order to be addressed prior to funding. In addition to the individual reports QUALIMAE also provides the lender a monthly Pre-funding report which tracks the deficiencies per responsible party so discrepancies can be addressed by management with their teams and therefore prevented in the future.Our Pre-funding Quality Control is done within 48 hours from the time we receive the complete documentation from our clients.
Mortgage Post-Closing Quality Control
QUALIMAE auditors use QCM, our proprietary software in order to complete the Quality Control Post-closing audits and validate the information in each file selected for QC.This review includes income, assets, employment, credit history, approval, closing documents, disclosures and appraisal review. We basically review every document required in the mortgage origination process. After the audit is completed QUALIMAE will provide the client with management reports and individual reports that are easy to read and understand. These reports include the Exception Action Report so any deficiencies can be easily corrected when found. QUALIMAE has been providing Post-closing Quality Control services that satisfy major regulatory bodies such as Fannie Mae, Freddie Mac, FHA, VA and all other Non QM requirements since 1994.
Mortgage Due Diligence
Before the creation of Qualimae our partner Underwriters participated in Due Diligence projects and audits all over the US including Puerto Rico. We also participated in a project to help the country of Argentina develop and implement a secondary market for their mortgages. The projects in Puerto Rico and Argentina required the interpretation and implementation of conforming guidelines in order for those originated mortgages to be purchased. As you can imagine, the translation from Spanish to English and the interpretation of the language was essential. Our Underwriting partners also helped develop software in order for the Banco Hipotecario Nacional Argentino in Buenos Aires perform conforming reviews of their mortgages. This project took approximately 1 year and required us to visit most of their provinces and was done in collaboration with local accountants and auditing teams. QUALIMAE was born out of a desire to be home and work from home after so many years traveling from bank to bank all over our beautiful nation and abroad.Our Team at Qualimae will be happy to speedily help any mortgage purchaser who needs Due Diligence audits performed. We are able to apply our experience either using standard guidelines or review the mortgages according to any specific requirements the investor considers important when making the decision of purchasing a loan portfolio.
Qualimae Consulting Services
Through the years, the experience our Qualimae staff and partners have acquired is very valuable because even though times change every single guideline change has a reason and history to back it up. We, at Qualimae, enjoy helping lenders every single time with consulting services that will comfort them when they are worried and help the lenders follow actions that will always make them shine in front of their investors and the world.