Compliance And Quality Assurance Tests
Analyses and Methodology
RDAssociates' proprietary analyses help clearly identify whether or not your staff is in compliance with regulations around fair lending, consumer protections, and appropriate disclosures (i.e. RESPA, TILA, ECOA, etc.) prior to an audit from the regulators themselves. The results of our Quality Assurance Tests can be used for future training and as evidence of your compliance.
Prior to any contact with your team, we will proactively work with you to understand the proper policies and procedures you have in place to be followed by your team. We also zero in on the particular areas of concern in order to best structure the QA process.
We then create a variety of potential borrower profiles based on the following:
- Low Risk: low-to-no debt, high credit score, high income, 20% down payment
- Medium Risk: some debt (student loans), lower credit score, medium income, 10% down payment
- High Risk: high debt (credit cards and student loans), low credit score, low income, 3-5% down payment
Our process includes:
- Call loan officers as potential borrower and record conversations
- Solicit questions based on client protocol and profile risks
- Provide detailed analysis with assessment
- Ensure continued regulatory and internal protocol adherence
Deliverables
All Quality Assurance Tests can be conducted through the following means:
- Phone - with audio recording
- In-Person - with audio recording
- Web (Speed To Lead)
All deliverables include quantitative and qualitative results.
See our new service "Mortgage Sentinel" in partnership with LodeStar Solutions.