MortgageRx is a compliance platform which can be used by servicers, third-party due diligence firms, investors, insurers and regulators to perform servicing audits focused on compliance with emerging national servicing standards, investor and/or insurer requirements, and federal and state laws and regulations.
Ability to create specific rules libraries to house investor/insurer guidelines, internal best practices, and state and federal laws and regulations that serve as a central repository for audit and compliance reviews.
Ability to combine rules into multiple audits to achieve a targeted business review objective : loans boarded for reviews can have audit components dynamically included/excluded where applicable, for example based on specific investor and/or state.
Integrates loan data and supporting documentation into the system that is presented in a "console" format for efficient completion of specific audits.
Allow internal auditors and/or quality control analyst within the client organization to use system as a decision support tool, using the correct rules library, to review each loan in a consistent and compliant manner.
Allow multiple parties - internal auditor, internal quality control, third party due diligence firm, regulator, insurer and investor to collaborate on determining compliance and conformance to pooling and servicing agreements, internal best practices, and/or federal and state laws and regulations.
Ability for multiple parties to record observations and commentary on specific loan-level review points while the system tracks all associated dialogue through completion of audit.
Dynamically creates and tracks multiple audit reviews based on an analysis of Borrower Complaint reasons Provide robust reporting capabilities to track progress and both interim and final results for audit reviews.
Improve control and quality of audit processes
Lower cost of multiple stakeholder reviews
Reduce cost of compliance and/or penalties