You have an obligation to control credit quality, so you perform red-flag reviews periodically. You try to find those things that got past underwriting. And of course, you want to be efficient about it. Here are the most important bits of advice from my perspective. First, most of your files won’t have any red flags, […]
First, be aware of current fraud dangers. This year, not last year. Stay current. Second, right now, it’s occupancy and income. That’s 95% of your problems so it should get 95% of your attention. Forget the other stuff, unless you have all day to do a review. Third, if your job is to find red […]
I have spent 25 years interviewing people as part of loan investigations. I’ve interviewed borrowers, loan officers, appraisers, escrow agents, sellers, and real estate agents – virtually everyone connected with a loan. If your job at your company sometimes requires you to call and talk to any of these people (especially when you think you […]