DENVER, Colo. (CitizenWire) — Titan Lenders Corp (TLC), a U.S.-based domestic mortgage fulfillment outsource company, now offers its Whole Loan Purchase Review (WLPR) service to institutional and correspondent investors. TLC is leveraging its extensive experience in whole loan delivery on behalf of correspondent lenders to complete an organic expansion of its service offering.
Titan WLPR was developed in the current compliance-centric mortgage lending environment to provide the investor with technology and expertise to vet the quality of the loan prior to purchase. Titan focuses on giving the investor clarity on risk exposure and minimizing potential repurchase demand due to poor execution of loan production in closing and post-closing. Titan executes investor defined purchase review auditing that delivers confidence marketing quality loans for optimum pricing and ratings.
"Titan Lenders Corp. is a vocal advocate of best practice risk mitigation in the form of a detailed review of mortgage loans 'pre-closing' to protect the lender and 'pre-purchase' to protect the investor," said Mary Kladde, Titan Lenders Corp. founder and president.
"Now, we are formally marketing a service that some of our clients have been using for more than a year," she added.
Titan's WLPR empowers investors to vet standard and negotiated contract terms and variances per investor – per product – per loan, providing full visibility to loan quality, pricing, and suitability with scoring of loan pipelines. The service facilitates investors' "hands on" management of compliance, fraud risk, data integrity, income and valuation, servicing data and potential integration with secondary markets and/or rating agencies.
Delivered via its patented Cerberyx platform, Titan's WLPR enables a democratization of technological resources that allows all participants to share in its standardization, full imaging/archiving of loans, secure data transfer of loan data or documentation, management of MERS registration and transfers. Titan WLPR scrutinizes often-overlooked areas of risk such as escrow account analysis prior to servicing setup and boarding.
Its real time and on-demand tracking and reporting give lenders the information needed to enforce best practices and quality assurance.
For investors, TLC's standard purchase review audit includes complete document review, checking for availability, completion, and accuracy of executed documents, to include undersigning or notary endorsement issues. Additionally, it conducts data review and comparison with the source documentation or system of record verifying investor-identified fields. In the dynamic Cerberyx environment, TLC's investor audit includes the review of issues identified to affect salability or loan performance either as encountered or by adding them to business rules. TLC compliance testing, using the Final HUD-1, includes TILA, HOEPA, HPML, MDIA, ROR, FNMA/FHLMC points and fees and state consumer credit. TLC's investor audit services can be integrated with a fraud engine, like Interthinx, and include escrow account analysis.
About Titan Lenders Corp:
Titan Lenders Corp (www.TitanLendersCorp.com) is one of a specialized few providers of mortgage back office fulfillment services, a not-well-understood facet of mortgage lending that includes closing, funding, and post closing services. Community banks, credit unions, mortgage bankers and brokers, and warehouse line lenders use outsource providers strategically to minimize compliance risks in a time-sensitive error-averse environment. Fluctuations in mortgage lending volume also lead some mortgage lenders to outsource their entire back office operation and secure predictable "per transaction" pricing rather than maintaining an inflexible static in house staff.
TLC is a preferred provider for some of the nation's largest mortgage bankers and wholesale investors.
Titan Lenders Corp's patented, proprietary web-based software Cerberyx (CBX) supports a full suite of fulfillment services, including: funding, compliance, closing, post-closing, purchase review for correspondents and warehouse lenders, trailing documents, MERs management, FHA insuring, and document management (imaging). CBX's flexible rules-based architecture allows TLC clients to define field level decision trees, priorities, checklists and process management specific to an investor product variance or a cross-investor climate.
Copyright © 2011 CitizenWire™ and Neotrope®. CitizenWire is a publication of the Neotrope News Network.