Quality control is a vital part of the mortgage lending function for financial institutions. We work within the unique needs and goals of each client, and provide the expert guidance needed to build a sustainable and effective quality control plan.
Mortgage Quality Control
Enlighten provides experienced professionals to help financial institutions manage risk and maintain strong credit administration practices. This experience assists our clients in staying ahead of the ever-changing financial landscape and addressing potential problems early.
Dedicated Services
Enlighten services are dedicated to risk management for financial institutions. We utilize our proprietary review process to deliver our services efficiently and effectively.
Strength of the Team
Enlighten mortgage professionals each bring nearly 20 years of mortgage experience to your institution along with the current, real-time experience of working with our clients and the regulatory and other challenges they face. We work as your partner for continuous improvements within your policies and processes.
Mortgage Quality Control
- Experienced professionals
- Flexible engagement structure
- Pre-close, post-close, and servicing
Policies and Procedures
- Review and provide recommendations for entire policy or specific components
- Review and provide recommendations for existing documented procedures
Co-Sourced Reviews
- Provide additional support for internal resources
- Work independently or as a part of an internal team
- Work plan to address all meaningful issues
Download our Mortgage Quality Control info sheet
How our Due Diligence services have made a difference.
Challenge #1
The client wanted to test consumer mortgage regulation compliance by selecting a sample of closed transactions each month. The client also wanted to ensure the file contained the required and executed loan documentation and financial support.
Enlighten Financial Solution
Enlighten Financial completed a monthly review of the sample files after closing to test compliance with required application and disclosure timelines, fee tolerances, and confirm required documentation by transaction type. Enlighten further confirmed whether the file contained the required documents and borrower financial information (income, assets, property valuations) to support investor requirements.
Challenge #2
The client wanted to include a sample of loans to be reviewed prior to their closing date to ensure conditions to close were satisfied prior to closing, that the file contained the necessary documentation to support investor requirements, and that the file was documented fully and ready to close.
Enlighten Financial Solution
Enlighten was able to establish a weekly agreed-upon review procedure to ensure the file met the requirements of the client and potential investors before the date of close. This included independent underwriting review, documentation verification, satisfaction of client conditions to close, and borrower verification requirements (income, assets, and property valuation) of any secondary market investor.