Our special operations unit is designed to bring down high defaults and claims, reflected in a high Compare Ratio. Through a structured program, the Compare Ratio Task Force®, we gradually work to diminish high compare ratios, HUD's statistic that reflects a lender's default and claims experience.
When a Compare Ratio is above 150: HUD begins a due diligence process to review the mortgagee's default and claims experience.
When a Compare Ratio is 200 or more: the mortgagee is subject to possible disciplinary review, termination of underwriting authority, and loss of FHA mortgagee approval.
THE SOLUTION TO HIGH COMPARE RATIOS
>>Comprehensive review of existing defaults and claims for loss
mitigation and loan modification eligibility
>>HUD-FHA and regulatory compliance guidance for the mortgagee
>>Notification to mortgagee of borrower's loss mitigation eligibility
>>Notification to borrower of loss mitigation eligibility
>>Referrals to expert, nationwide legal counsel to handle loss
mitigation and loan modification strategies
>>Monitoring of loss mitigation applications in process
>>Follow-up with mortgage servicers to assure proper and timely
resolution and notification to HUD-FHA
>>On-going review and loss mitigation of new defaults and claims
TASK FORCE DESCRIPTION
>>Staffed with subject matter experts and skilled auditors
>>Specially designed checklists and automated file screening
>>State-of-the-art quality control, compliance, forensics, and
modern research facility
>>Scalable up to virtually any size default and claims experience
>>Upload/download large file formats for prompt reviews
>>Located in a secured and safe audit location