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KLR Group Announces Options For Post-Close File Review Compliance

While Fannie, Freddie, FHA, and VA's requirements for residential mortgage lenders to QC loan files post-closing have been in effect for some time, the process of selecting, reviewing (in a group separated from the origination group), and analyzing the results can cause problems when it comes to resource management, deadlines, and costs.

The Boston-based KLR Group has now announced a layered solution to the problems residential mortgage lenders face in complying with the review requirements. The solution consists of three options that can be configured to meet the specific needs of each lender individually:

  • Technology
  • Full Service
  • Staffing

The technology option is a software platform, unique and specialized for individual agency and loan-type review compliance. The platform is a production management and QA tool, guiding the reviewer through a full file review that includes rules, tolerances, and compliance measures. The platform fully supports results reporting and detail imperative to loan production quality improvement.

Full Service by KLR delivers a complete solution—the QC sample set of files is delivered to KLR for full review. KLR utilizes fully trained, on-shore reviewers via the production technology platform. Completed files and result reporting are delivered as specified by the client.

Staffing can augment internal resources when deadlines and volume require more review resources. The staff can be located on-site, off-site, and utilize any review system as necessary. The layered approach allows KLR to deliver a solution that is the best and most cost-effective fit.


About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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