Tommy's Blog

I agree the Automated Underwriting Systems (AUS) were misused as a “quick an easy”.  As a post closing quality control expert, we constantly made attempts warning lender of the data model manipulation to get deals done.   Now with new quality control initiative like Fannie Mae’s Lenders Quality Initiative (LQI) we are seeing more diligence and prefunding measures taken to prevent data model manipulation and back to   [more...]

The quality control and fraud detection arena is excited about the “going green” concept for the mortgage industry because it is leading the way for a decrease in mortgage fraud, such as identity theft and forgery. The problem with going paperless is the fact that so many documents require signatures known as “wet ink.” There are two types of signatures other than wet ink: Electronic   [more...]

Quality Mortgage Services owns a software called Mortgage Analysis Review Software (MARS).  It is basically a ASP.net ran on MySQL that allows mortgage auditors to enter data during their audit.  It is not a decision making tool, we leave that up to real human intelligence.  It is a software that takes the end users through the loan process.  The end user must be advanced mortgage   [more...]

I have clients from supervised wholesale lenders to non-supervised loan correspondents and I have seen about every type of fraud detection tool out there, from document compliance vendors, credit bureau services, automated valuation model (AVM) products, compliance software checklists and data services. For some reason, regardless of the technologies available, mortgage fraud keeps increasing. As more technology keeps surfacing the more fraud prevention data systems   [more...]