Donnashi Enterprises, Inc.

Phone: 760.699.7877 Fax: 760.512.9091

MANDATORY QUALITY CONTROL REQUIREMENTS: 1/2014

Servicing Audits for Lenders Who Have a Sub-Servicing Arrangement

The Consumer Financial Protection Bureau (CFPB) says that, if you have another service your loans, you still own full responsibility for their actions. Servicing audits are mandatory on FHA loans (quarterly) and CFPB expects the lenders to pay attention to the loan portfolio serviced by another. Servicing audits can cost as little as $1.00 per loan; price may vary depending on portfolio size. Remote access, audits include all phases of servicing from audit to termination, with a special attention to custodial accounts, collection, default activity and customer complaints.

Pre-Closing Audits

As of January 2014, Fannie Mae requires that (at least) 30% of the loans ORIGINATED must have an extensive pre-closing audit review: We can help keep your costs low!

We offer reasonable fees and quick turn-around of 1-2 business days. Our review includes:

  • - Our Underwriting Auditor validates all AUS information
  • - Validates income, assets and disclosed debts
  • - Compares IRS Transcripts to income and AUS findings
  • - Reviews of all fraud-software findings
  • - Appraisal review (i.e., AVM)
  • - LDP/GSA (Sam.Gov) on all parties
  • - SSN Validation Third Party
  • - NMLS license checks
  • - Reports for senior management, on all pre-closing audits, reviewed by Donnashi Enterprises, Inc.