The Application Data Validation Report enables lenders to reduce the risk of loan repurchase due to fraud and enables compliance with new secondary market requirements. Clients upload the loan file once and our system validates dozens of key loan data elements to return a concise independent report which lists of discrepancies and warning messages to enable compliance with such new requirements as the Fannie Mae LQI.
Our validation system employs a massive network of consumer, property and corporate information including: credit header file data, utility invoice data, single family residential property data, USPS data, corporate & sole proprietor data, reverse phone and reverse address data and demographic sources. Our validation reports are approved by CitiMortgage and enable clients to detect discrepancies and indicators of mortgage fraud.
The Application Validation Report includes a summary page with a risk score and key warning message and detailed reports on each key element of the validation process.
Validates key loan data and returns one concise report including: