Servicing

TCG offers a dynamic Quality Control Review platform for Loan Servicing.  Our extensive expertise in loan servicing allows us to specialize in both general servicing and default servicing activity.  We follow FHA, FNMA, FHLMC, and VA guidelines, and all reviews include regulatory requirements.  Additional client specific requirements, such as OCC or internal policies can be added to the review process if desired.  TCG has been very successful in assisting clients in identifying issues and mitigating potential loss or regulatory issues.

The selection and review process is performed within the required timeframes as specified by FHA and the GSEs.  Robust reporting is another key factor when performing a QC Servicing Review. TCG can provide its clients with flexible report options to ensure audit results provide meaningful data to management.

The servicing reviews are classified as follows:

  • Conventional Loan File Review (Monthly or Quarterly depending on client need)
    • Default
    • General Servicing 
  • FHA Loan File reviews (Required Monthly)
    • All Servicing Elements reviewed on all loans selected

Servicing Gap analysis

As part of our audit and compliance services, TCG offers a Servicing Gap Analysis with respect to compliance with GSEs, HUD, CFPB and servicing operations.  This audit will demonstrate to the various GSEs, HUD and CFPB that our client has a compliance management system in place that monitors the entire servicing operation to verify any compliance risks and gaps that may exist.  This review should include senior management’s involvement, and incorporate management action plans to address any apparent weaknesses.  TCG follows HUD and GSE guidelines, as well as federal regulatory requirements for servicing while conducting the analysis. Our review includes the following areas of servicing, and can be customized depending on the need of our client or their particular business operation:  

  • Policies and Procedures
  • Customer Service
  • Call center operations overview
  • Complaint and Escalation handling
  • Customer call quality control
  • Error resolution
  • Letter administration 
  • Loan level verification and/or documentation
  • ARM Maintenance
  • Escrow Management
  • Cash Management
  • Default Servicing; Collections, Loss Mitigation, Bankruptcy and Foreclosure
  • Investor Reporting
  • Quality Control Program

Subservicer Monitoring 

The Agencies, FHA and CFPB require that servicers monitor their subservicer to ensure that they are following certain guidelines set forth under the seller/servicer guides, mortgagee handbooks and CFPB servicing regulations.  TCG delivers a macro and micro review of a lender’s subservicing vendor. Our goal is to ensure all data supplied by the subservicing vendor meets the lender’s internal requirements and to identify any areas in need of improvement. In addition, TCG will review the lender’s policies and procedures with respect to sub-servicing monitoring and their interim servicing practices. Upon completion of the review, TCG will deliver a fully compliant servicing QC report noting recommended prudent servicing practices, as well as organizational deficiencies.  The monitoring reviews can be performed quarterly, semi-annually or annually. TCG believes that this review is acceptable to be performed on an annual basis, but is dependent upon client’s policies and procedures.  

In addition to the subservicing monitoring review, TCG can also perform loan level Servicing Quality Control on loans serviced by the client’s subservicer.  The frequency of these reviews can be monthly or quarterly, depending on the need of the client. 

Ready to let TCG handle your Servicing needs? Contact us.