Product

Risk Reveal

An automated technology that scans closed loans to reveal the ones that may pose a potential risk

Product Overview

Undisclosed debt remains one of the largest challenges for investors with a delegated correspondent channel. Twenty percent of mortgage loans reviewed in 2013 had one or more new trade lines during the 'quiet period'—the time between the original credit file pull and the closing of the loan. Fannie Mae and Freddie Mac, along with Mortgage Insurance (MI) companies, have a vested interest in 'clean' loans, yet the continued growth and competitive nature of correspondent lending requires the investor to make critical decisions on large volumes of loans in a very short time frame.

These challenges can cause investors to purchase mortgages without the thorough review necessary to ensure due diligence was performed—exposing the organization to costly repurchase requests. Risk Reveal™ is an automated technology that scans closed loans investors receive from their delegated correspondent lenders to reveal the ones that may pose potential risk.

The value to your business:

  • Best-in-class workflow processes allow you to quickly find the loans you need
  • User-friendly setup screens help you create custom rules such as desired thresholds
  • Customer support tools and processes allow end-to-end visibility of the inquiry and fulfillment
 
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