Brokers

Recent changes in the mortgage industry have severely affected mortgage brokers. While big banks and other sources of credit have taken huge monetary losses, it is the brokers that have taken a disproportionate hit. Besides the increasingly stringent lending requirements being imposed by lenders, there are also big changes in federal and state legislation that will severely alter the way mortgage brokers can do business.

How can you survive in this increasingly complex and difficult industry while state and federal statutes are changing rapidly and investors are tightening their underwriting and quality control requirements? The best way is to retain MBES to guide your business through the new state and federal compliance procedures as well as the new quality control and underwriting requirements being imposed by lenders and investors. These are areas of business that brokers have not had to be too concerned with until now. To be in compliance, brokers will either have to hire personnel with this expertise, with the attendant cost burdens this would entail, or retain MBES and use its experts on an “as needed” basis. By using MBES, you will not need to have a full-time compliance employee or create a risk management/analysis department.

MBES will tailor a consulting, audit and quality assurance program that meets your company’s needs so that you only pay for our services you need when you need them. We offer a wide variety of services, including:

• Compliance consultations to apprise you of current regulations to keep you in regulation;
  
• File review for underwriting compliance;
  
• Review of problem loan issues;
  
• Review and evaluate any mortgage banking related lawsuits,
  
• Review and evaluate all in-house compliance procedures;
  
• Review and evaluate repurchase requests from investors and provide written rebuttal where possible;
  
• Review and evaluate your company’s loan files to determine if a repurchase request should be made on another mortgage entity;
  
• Fraud investigation;
  
• Outsource services for QC demands by investors/wholesale lenders, etc.
  
• Attorneys with extensive mortgage banking litigation experience;
  
• Mediators with mortgage banking experience
  
• Compliance reviews (This audit program has been developed specifically for mortgage brokers who need their files reviewed for all Federal & State Compliance issues For a small per file fee, MBES will review all the Federal & State Compliance documents and report the results of the audit to the broker in less than 30 days

For specific information on the cost of various expert services or to just get answers to your questions, contact us at 415-892-5309 or send an email to MBES@comcast.ne: with your specific questions or to request a quote.