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.
Qualimae staff is here and will be happy to help you with any Quality Control questions the same way we have for the last 28 Years!