Quality Control & Audits.

QMS–your mortgage quality control and auditing technology solutions partner.

Today’s environment requires lenders and servicers to assimilate extensive regulatory and investor guidelines into daily workflow and operational practices.  QMS understands the value of a great partner in this endeavor.  Providing superior customer service, proven audit methodology, solid experience and comprehensive reporting tools, QMS offers the perfect solution to support your company’s QC requirements.

QMS delivers a full suite of quality control solutions and reports powered by the Mortgage Analysis Review Software (MARS), a state of the art proprietary audit technology. Intuitive. Comprehensive. QC Software. 

QMS services for QC and Audit.

HMDA Audits

Post-Closing Audit Solutions

Pre-Funding Reviews

Federal Agency Reviews

Pre-Purchase Due Diligence Reviews

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Mortgage Banking Quality Control

Post-Closing Quality Assurance

Quality Control Plans

AML Audits

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Our Audits

Post-Closing Audit Solutions

QMS Post-Closing QC audits include a thorough and comprehensive review of loan documents as required by Fannie Mae, Freddie MAC, FHA, VA and USDA respective guidelines for quality control. Offering an aggressive turn-time of 4 to 6 weeks from the moment files are received, QMS’s comprehensive Post-Closing Audit includes:

  • MARS Management Response portal: 

                 Automatically determine random or targeted file selection at point of  onboarding 
                 Manage and cure report findings (customer support readily available at no cost)

  • QC audit and review of all loan documents

  • Re-underwriting of the mortgage loan 

  • Ordering capabilities: field review appraisal, credit report, other ancillary items

  • Risk and data integrity analysis

  • Desk appraisal review 

  • Full compliance review

  • Thorough credit analysis

  • Asset re-verification and tax transcripts 

  • Exemplary  customer service from dedicated, responsive and experienced team members

  • Detailed management reports (trending and analytical tools available through portal)

  • Custom reports at no additional charge

Pre-Funding Audits

QMS Pre-Funding audits are designed to identify defects in data and documentation to meet approval guidelines, achieve timely clear-to-close and/or meet investor funding requirements.  QMS provides a normal turn-time of 24 to 48 hours, or for those urgent scenarios, clients may opt for 7 to 12 hour’ turnaround time.

 

QMS audits are compliant with standard agency, investor and regulatory guidelines, with analytical reports provided to assist management and executives in compliance and underwriting oversight.

During Pre-Funding audits, QMS examines:

  • The initial loan application

  • The sales contract

  • Underwriting quality

  • Appraisal desk reviews

  • Federal and State Regulatory requirements

Through our proprietary MARS Management Response platform, the client has access to an intuitive and comprehensive portal, trending reports, charts and analytical tools that assess production.

Servicing Audits

The QMS Servicing audit platform helps servicers bring technical innovation to their operation.  Delivering compliant audit capabilities through the Mortgage Analysis Review Software (MARS) system, servicers gain access to meaningful support in the following areas:

  • Servicer Boarding Review: Looks at the origination file for the first 120 days. - General Information - Servicing Transfers - Servicer Boarding - Loan Information - Title Policy - ARM Loans (Rate Adjustments) - Escrowed Loans – Hazard – Flood - Loans with PMI - Forced Placed Insurance

  • Servicer Administrative Review: Looks at the origination file, pay history, and servicing notes/comments for 12, 24 or 36 months. Includes the most recent customer comments. Loss Mitigation Attempted - Modification - Repayment Plan (escrow Shortage) - Forbearance - Short Sale - DIL - Foreclosure - Bankruptcy - Active SCRA - Evidence of Litigation - Evidence of Fraud - Deceased Borrower - Damage - FEMA Disaster Area - MI Mentioned - Title Issue - Delinquent Taxes - Escrow Shortage - Property Listed - Property Under Contract - 3rd Party Realtor - REO - Eviction Requested - Coronavirus Mentioned

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Closing Due Diligence Audits

QMS is ready to assist clients with loan validating prior to shipping by offering an extensive or customized review, per client requirements. In these efforts, QMS validates the quality and accuracy of mortgage loan packages prior to investor distribution. The qualified staff at QMS will ensure that the loan is accurate by reconciling mortgage documents and loan programs for completeness and compliance. The post-closing due diligence audit is vital to mortgage banks selling loans in the secondary markets. Contact us today to learn more. 

Custom Audits

Powered by MARS, Mortgage Analysis Review Software, QMS offers exclusive audit customization for their clientele. The benefits of partnering with a boutique technology firm gives QMS clients the opportunity to customize quality control audits, reports and solutions to meet today’s industry demands.  The QMS client also experiences superb customer service and gains access to numerous tools and analytics through the MARS portal.