PRE-FUNDING AUDIT REVIEWS
QualiMae® Pre-Funding Audits Always Done Right
Pre-Funding Quality Control (QC) Mortgage Audits are an essential component of a comprehensive Origination Quality Control program. These audits identify issues in a pending loan transaction that should be mitigated before closing.
Lenders across the country trust QualiMae’s experienced and specialized team of auditors to perform high-quality and timely EPD Reviews, Pre-Funding Audits, and Post-Closing QC Audits that satisfy major regulatory bodies such as FHA, VA, Fannie Mae, Freddie Mac, and all other Non-QM requirements since 1994.
OUR FOUNDERS ARE THE INVENTORS OF THE PRE-FUNDING QUALITY CONTROL CONCEPT. 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 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. We also validate 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 to be addressed before 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.
QUICK TURNAROUND TIME
Time is of the essence when performing Pre-Funding Audits.
QualiMae® provides a 48-hour turnaround time for the completion and return of audit results. The Pre-Funding Audit process includes:
- An analysis of income and liabilities to determine if debt and income figures utilized by the underwriter are accurate,
- Validation that sufficient income and assets have been properly verified,
- A complete review of origination, processing, and underwriting documents,
- An appraisal desk review,
- In addition to the individual audit report provided as each transaction is audited, trend analysis and other reports are provided monthly.