Forensic File Reviews

The industry has witnessed record levels of delinquencies, foreclosures, mortgage fraud, ethical issues, imprudent underwriting, and breaches of contractual representations and warranties

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Recovco, with its operational compliance analysis and thorough loan review excellence provides business partners with:

Perform a full loan audit including a review and analysis of the servicing file

Review appraisal for USPAP violations and unsupported value assertions

Re-verify information obtained at origination via utility companies, public records, PACER

Complete re-verification of employment and occupancy

Retrospective AVM reviewed versus original appraisal report to detect any inconsistencies

Our global loan review analysts will review each document from end-to-end to provide the required analysis.

Possible Re-Review Scope

Analysis of each loan against applicable rules and regulations as well as against loan policies of banks and lenders (vintage guidelines with credit overlays)

Deep dive into the original valuation-this is where many issues are currently being found

Determination of adequate documentation in selected credit and collateral files

Evaluation of credit quality of selected loans, leases and letters of credit

Credit Underwriting

In-depth original underwriting summary highlighting quality of underwriting information

Appropriateness of risk rating for new, renewed or modified credit

Forensic VOE and VOD's

Check to validate background of borrower or business, credit reports

Balance sheet, cash flow and collateral analysis to ensure credit worthiness and repayment capacity of the borrower

Determination of sources of repayment including primary and secondary sources

Finalization of loan agreements/surviving commitment letter