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Quality Control
Origination Quality Control

Maintaining compliance with Agency QC requirements is critical for any lender. AMC's Quality Control services give clients the option to outsource to a highly-skilled partner that utilizes state-of-the-art technology and a large workforce that delivers superior results and customer service. Standard reviews include: core documents, credit / investor guidelines, appraisal, lien position, TRID compliance, and reverifications. Experienced Team Leads guide clients through the entire process and serve as the single point of contact to resolve any and all issues.

AMC handles all aspects of the QC review: (1) sample selection, (2) re-verifications (incl. manual re-verifications), (3) Field Reviews, (4) rebuttal process, and (5) final/trend reporting. Compliance is a core competency at AMC, and we offer a componentized approach to compliance scopes - clients can choose the most appropriate level and cost. We offer points and fees testing, state disclosure compliance, and comprehensive TRID reviews. AMC's Origination Quality Control services meet the needs of lenders.

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Origination Quality Control
Base Review
Day 1 Certainty Review™
Base + Predatory Lending
Base + State Disclosures
Base + TRID
Early Payment Default
Incomplete / Denied / Withdrawn

Servicing Quality Control

MERS


Base Review

AMC's base review is fully compliant with Agency quality control requirements. Robust technology automates much of the data and loan document intake and the sampling engine handles client customizations and stratifications. Our proprietary system handles review tasks with logic rules that can be augmented with client customizations to ensure quality and consistency in the reviews. AMC's post close quality control scope includes: (i) a complete re-underwrite that incorporates client/investor specific overlays and nuances, (ii) a compliance review focusing on the timing, presence, and completeness of the compliance documentation, (iii) closing documents, and (iv) property valuations and full re-verification activities, as applicable. AMC uses its dual factor authentication secured client portal to publish results in real time making the included rebuttal process efficient and maintaining a compliant audit trail.

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Day 1 Certainty Review™

AMC's system uses underwriter-driven rules to notate loans that are subject to Fannie Mae's Day 1 Certainty™ program. By driving workflows from underwriter created flags and data, AMC can segment parts of the review according to the 'relief' offered by Fannie Mae's program. Thus review scopes are systematically adjusted, reverification activities are reduced, and AMC is able to reduce the cost of the overall review for the benefit of the client.

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Base + Predatory Lending

If desired, AMC can test to determine whether the subject transaction is in compliance with federal, state, and local laws governing high cost and/or predatory law thresholds. This testing is limited to the following high cost / predatory law threshold tests where applicable: points and fees threshold testing, rate threshold testing, and prepayment penalty threshold testing. AMC is one of the only post close quality control outsourcing firms that backs its compliance scope with internally-developed technology supported by on staff industry-recognized compliance experts. Furthermore, AMC's systems are independently vetted annually by leading mortgage compliance law firms and allow for the flexibility to create customized compliance reviews.

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Base + State Disclosures

If desired, AMC can add origination state disclosures to the origination quality control script. When required, the presence and completeness (when applicable) of such state disclosures can be added to the compliance testing suite. State Disclosure testing can also be added only for certain states at the client's discretion

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Base + TRID

AMC offers a variety of TRID related review scopes to meet the diverse needs of our clients. TRID reviews can be performed to a full secondary market standard accepted under the Structured Finance Industry Group ("SFIG") or to standards that may be more aligned with the client's execution strategy or perception of risk. Unlike other QC providers, AMC can provide TRID reviews that are comprehensive, in-line with established industry standards vetted by secondary market participants, rating agencies, and external counsel. If desired AMC's review can include all Loan Estimates and Closing Disclosures, change of circumstance, and the completeness and accuracy of the data points within the documents. Fee tolerance testing is inherent in this process. Additional information surrounding these review scopes is available upon request.

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Early Payment Default

AMC's Early Payment Default (EPD) review is performed consistent with the U.S. Department of Housing and Urban Development's (HUD) requirement for lender's to perform a review on all loans where the borrower failed to make a payment (thus becoming delinquent) within the first six (6) required payments on the mortgage loan. The review focuses on underwriting defects, red flag identification, and root cause analysis.

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Incomplete / Denied / Withdrawn

AMC's Incomplete / Denied / Withdrawn ("I/D/W") review is focused on ensuring the client complied with certain parts of the Home Mortgage Disclosure Act (HMDA), Equal Credit Opportunity Act (ECOA), and/or the Fair Credit Reporting Act (FCRA). Additional information surrounding these review scopes is available upon request.

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AMC clients include

Mortgage Originators Asset Backed Originators Banks Servicers Hedge Funds Insurers REITs RMBS Issuers Asset Backed Issuers Warehouse Lenders Law Firms
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