Preemptory Audits

"Where any question of fraud or misrepresentation may exist in a loan application, your bottom line is best benefited by the loans you don't write!"

In today's chaotic lending world, the business of conducting outsourced preemptory audits is rapidly gaining momentum. This is not a service that is intended to offer underwriting approvals. Instead, particularly in TPO scenarios, MFE will provide outsourced preemptory audits testing critical areas of the application and documentation where misrepresentations are typically found. Know before you commit your resources that the incoming loan has already been tested in critical areas for potential defects.

Secondly, MFE will also provide this service for any loan in your system where underwriting identifies a red flag issue. Without having to dedicate internal resources, instead a lender can electronically outsource a file to MFE and within 24 hours an audit will be conducted focusing on any area of concern and electronically return a narrative findings report.

Quoting industry experts, "the best fraud defense is a good offense. The potential return on the cost of fraud management is as high as $8 for each $1 spent."