Decisions rely on underlying data, how do you know it’s accurate?
TRUSTED BY INNOVATIVE COMPANIES WORLDWIDE
TRUSTED BY INNOVATIVE COMPANIES WORLDWIDE
A minor shift, a major reward
Proactive, continuous monitoring through the loan lifecycle
Mortgage Quality ControlComprehensively review your portfolio before it boards, in your LOS, and throughout servicing for accuracy. Quality Manager allows you to compare every field on every loan against documents, regulations, and internal guidelines to ensure proactive identification of issues before they become findings, fines, or headlines.
Remove manual processing and ensure 100% compliance with automated controls. BaseCap automates Pre-Foreclosure Checklists, SCRA compliance validations, letter correspondence, inline QA, and so much more to help your business address gaps and spend time focused on delivering results.
Service Provider OversightIngest and summarize your service providers’ daily reporting with visibility into issues, accuracy, and compliance so you can expedite reconciliation, report with confidence, and drive improvements to the source.
Common mortgage challenges solved
A sampling of the many challenges we help mortgage teams tackle.
- Loan boarding has historically been a challenging process. Even the smallest transfers require many reviews, reconciliations, and trials in which loans with issues still slip through the cracks. With Servicing Transfer Manager, you can automate the transfer process and confirm the data you are ingesting is accurate, preventing customer impact and downstream risk with an expedited, end-to-end experience. This means formatting issues are swiftly identified with inaccurate, illogical, and/or non-compliant data, and variances between collateral documents and loan boarding details are easily identified.
- Recoup potential losses from prior servicers by leveraging Quality Manager to automatically conduct a post-boarding evaluation of timelines and advances on non-performing loans to identify overallowables and areas of risk.
- Expedite daily processes by eliminating the manual completion of checklists. Checklists are leveraged daily throughout the loan lifecycle to confirm completeness and compliance. While many checklists are now digitized, there remains a requirement for team members to evaluate the system of record and insert a response for most checklist items. Quality Manager removes the human touch from checklist completion by evaluating and comparing multiple data sets against client-defined policies to ensure completeness, accuracy, and compliance.
- Automatically perform comparative data analysis within multiple applications to ensure accurate reporting for your operators, executives, and regulators. Quality Manager automatically maps similar data elements between systems and recommends validation testing to quickly identify anomalies and mismatches.
- Confirm loan details match pertinent documents in any and all of your business applications. Most commonly used for pre-funding and post-closing QC.
- The current process for SCRA compliance validation can be painful, splintered, and incomplete. Many organizations don’t have a scalable solution and only review a small percentage of their loans, inviting risk and increased scrutiny. With our SCRA solution, BaseCap can provide multiple levels of automation that include validating active-duty details are appropriately reflected in your servicing platform, coordinating with impacted teams, and ensuring compliance daily. BaseCap’s automation allows employees to focus on actionable exceptions with a scalable solution that has no limits to volume or frequency, including newly boarded loans.
Download a mortgage case study
What our users think
“BaseCap’s Mortgage Quality Manager offers a very detailed process, allowing us to focus our efforts precisely on those few issues that require remediation”
SVP, Servicing Systems, New American Funding
“This is game changing for our business”
Director of Servicing, Top 10 Mortgage Servicer
Frequently asked questions
While the technology has definitely improved, it is essentially the same read that was done twenty years ago. As a Microsoft Partner, BaseCap utilizes Form Recognizer for our page reads. Documents are simply another source of data for the platform – so whether it’s coming from our read or another firm’s read of the documents you have available, we can use it to ensure you’re using the best information. The BaseCap platform takes this existing process and enhances it by allowing verification and confidence of both the underlying document and the individual fields to give you awareness of those items that don’t pass muster.
BaseCap can test your entire mortgage loan portfolio for FDIC oversight. Title 12 (CFPB) Origination and Servicing full-population compliance testing will be available later this year.
When you see a needed change to a policy, your authorized users can adjust as frequently as needed. Depending on the level of support that you select in your agreement, you can engage the BaseCap team to support your operations in ongoing policy updates. Our client’s internal teams typically handle changes while our staff can provide support, or with our premier support package, we will track, manage and sync with your compliance for approval before rollout.
The BaseCap platform is designed to be implemented simply and without the need for extra professional services. Organizations can be up and running within 72 hours. Outside of implementing the platform and establishing the specifics of your environment, setup will require coordination between your business and technology teams to ensure Dialing in For Lineage. Organizations can easily distribute the task of mapping their internal control environment to the business requirements of each law. The exact timeframe is dependent upon the size and complexity of your organization. For Validator, data files are securely sent to BaseCap daily for fully automated compliance testing. Set-up time to determine specific data parameters normally takes a few days.
BaseCap’s platform is hosted in the client’s cloud environment. We are a Microsoft Partner and can readily deploy into Azure, but we easily deploy into other environments as well. Each of our customers has a dedicated application within their environment, segregated from other BaseCap customers.
Pricing is based on an annual subscription model with unlimited users integrating support and various modules. Not all clients require all functionality. To better support each organization, please schedule a call with our sales team for customized solutions.
Ready to see a demo?
Ready to see a demo?
Let us show you how BaseCap’s Quality Manager can help solve your mortgage challenges.