QUALITY CONTROL

Our extensive research into the practices of successful Mortgage Brokers and NMLS Loan Originators has strengthened our belief that reliable and effective quality control programs are essential to the mortgage industry. Organizations with a commitment to quality control recognize that quality begins before an application is taken and continues throughout the entire mortgage origination process. As a hard money lender, we recognize that the quality control and disclosure process is essential for the consumation of any loan. 

 

The purpose of a quality control program is to monitor and evaluate the integrity of the origination process and to provide feedback to the organization about its loan originations. 

 

  1. All loan files are securely stored in locked file cabinets when not out for processing or servicing.  A log is kept whenever a file is removed from the file storage area or taken out of the office in the course of company business.  A file return policy is employed so as to confirm a file has been checked back into our secure system.

  2. All credit reports are ordered by our company from companies that comply with the Fair Credit Reporting Act.  We require all (3) credit bureau’s credit history on all borrowers.  If we are unable to fund a real estate loan due to credit a Regulation “B” Notice is promptly sent to the borrower indicating the reason why we were not able to extent credit and possible solutions for the borrower.  Any discussions pertaining to individual credit entries on the borrower’s credit report is referred to the appropriate credit reporting agency for further explanation.

  3. All appraisals are performed by qualified and experienced real estate appraisers and properly licensed by the State of Texas.

  4. All income documentation submitted to our company whether from a borrower or broker is reviewed and checked for authenticity.

  5. Telephone verification of information submitted to our company is performed when necessary as determined by our loan origination team.

  6. All required loan origination disclosures are provided to the borrower within all required governmental time frames including the new TRID rules.  This includes but is not limited to State Fair Lending Notices, Federal Equal Opportunity Notices, Good Faith Estimates of closing costs, Federal Regulation Z, Truth in Lending Disclosures and the State of Texas Mortgage Loan Disclosure Statement.

 

 
Need more details? Contact us

We are here to assist. Contact us by phone, email or via our Social Media channels.

© 2023 by Hamilton Cash Investments, LLC