- Name
- Michael Richardson
- Company
- First Valuation Services Inc.
- E-mail
- Contact Michael Richardson (First Valuation Services Inc.)
- Website
- http://www.brokerpriceopinion.com
- Office Phone
- (303) 991-9919
- Address
- Denver, CO, 80202
- Description
- BrokerPriceOpinion.com is committed to providing superior Quality and Service by hiring and retaining talented personnel, monitoring and refining its business processes
Quality Control & Mortgage Fraud Services
PMF Third-Party Neutral Quality Control Reviews
Fannie Mae’s new Loan Quality Initiative (LQI) mandates:
A Quality Control Plan exhibits the policies and procedures that companies consider the responsibility of every employee. This plan follows both requirements of key government agencies and primary mortgage investors and is a vital resource to ensure a company’s mission is achieved.
Mortgage Origination needs to be in compliance with Federal and State laws and an effective Quality Control Plan is necessary to ensure that loans are salable in the secondary market and follows Fannie Mae’s Loan Quality Initiative (LQI):
- Lenders are expected to develop and maintain a QC program that meets Fannie Mae requirements.
- Lenders’ QC plans are required to include a Prefunding review process.
- Implementing and maintaining re-verification and review procedure
- QC loan selections must be made within 30 days of closing, and review must be completed within 60 days of selection (previously 90 days). Lenders must notify Fannie Mae if their QC cycle is behind by more than 30 days
- Results from the Lender’s QC audits/reviews must be reported to Senior Management within 30 days after the completed review/audit.
A Quality Control Plan can be labor intensive and costly if not developed thoroughly or not implemented strictly. Make sure your Quality Control Plan is complete, your employees are trained, and your internal control audit and compliance checks on loans are proving the quality control standards set in place. It is Consistency in process and enforcement compared with the implemented written Quality Control Plan that will demonstrate integrity within your mortgage operations.
Mortgage Origination “Third-Party Neutral” quality control is required to stay in business, to avoid unacceptable risk for your company, the correspondent investors and all governmental agencies.
Quality Control Mortgage Loan Review Services include:
- Clear to Close- Prefunding Reviews
- Post Closing Mortgage Loan Reviews
- Fraud Investigation, EPD, Foreclosure & Repurchase
- Mortgage Quality Control Plan Customization
Mortgage Origination “Third-Party Neutral” quality control reviews are critical and required to stay in business, to avoid unacceptable risk for your company, the correspondent investors and all governmental agencies.
About Preventmortgagefraud.com Group
The focus of PreventMortageFraud.com dedicated team of seasoned professionals is to help our clients identify and manage the varying risks and challenges associated with mortgage lending using our Third-Party Neutral Audits.
The staff of PMF brings a wealth of knowledge and a wide range of professional and technical mortgage lending experience to the business. Our residential mortgage review services include an assessment of loan credit quality, underwriting practices and overall procedures in order to stay abreast of the continually changing mortgage guidelines from Freddie Mac, Fannie Mae, and FHA.
Our Third-Party Neutral Review types include Prefunding, up to date Quality Control, Early Payment Defaults and Fraud Investigation among others to support perceived increases in quality control review demands and assist in managing risk.
We are committed to being your Third-Party Neutral mortgage professionals, although we’re flexible in our approach. We work hard to bring value to our clients and the guidance we provide is practical.
If you believe your bank or mortgage lending institution may benefit from Third-Party Neutral loan review outsourced services designed to support the lending & risk management functions, please look through our site to learn more.
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Our Operations center is based in Denver, Colorado
Contact our offices Monday – Friday
8:00 AM to 5:00 PM Mountain Time
Office 888-877-7951
Quality Control Support: Quality@preventmortgagefraud.com
Billing: Billing@preventmortgagefraud.com
Third Party Reviews: Reviews@preventmortgagefraud.com
Testimonials:
Sue, a real estate broker,
I found your book most enlightening and would highly recommend it to all real estate and mortgage brokers. For individuals such as ourselves that have been in real estate and mortgage for 20 years we should have a strong desire to keep our industry healthy. Thank you for your contributions and for your book, it is most informative.
Laura, A Homeowner,
Your book is amazing. Once I started reading it I couldn't put it down. Very informative. An eye-opening read. The industry has needed a book like this for a long time.
Richard Stevens, Mortgage Banker,
This book is very organized and educational, I have been in the mortgage business for 13 years and had no idea what lengths the fraudsters would go to accomplish mortgage fraud. Michael has a very unique way of explaing mortgage fraud. If you want to avoid mortgage fraud this is a must read!!
Audris G. Hampton Hampton Lanphier LLP
Michaels qualifications make him a subject matter expert, my clients and I benefitted by working with him in the past (not to mention how much I benefitted from reading your book!).
Bonnie Cox, Real Estate Broker, RE/MAX MASTERS
"I believe Michael Richardson to be a very focused and honest person. I would recommend Michael to represent me or a family member as a person of trust."
Alan Lewis, President, Mortgage Edge
"I had the opportunity to work with Michael during the height of the home finance sub-prime hey-day. His was one of the few shops that refused to do bad loans, plain and simple. He employed and supervised several loan officers who serviced low income and immigrant communities, where most of the opportunities for abuses occurred. It was refreshing to know he would not bend the rules or look the other way to get a loan approval just to make a commission. He and his company were known for being straight-shooters, hence the "untamed" loan officers always landed elsewhere. He also practiced zero-tolerance for fraud - on the rare occasion where Michael discovered documents were not compliant, both the loan and loan officer were tossed. Would that more of him were in the business back then!"
Katrina G. Hightower, CRCM- 1st National Bank Colorado
I was on your webinar a couple of weeks ago and I want to thank you for offering this presentation. This was the best (and I do mean best) presentation I've seen on mortgage fraud ever.
Mark Kasak, Special Investigations, JPMorgan Chase
"I fully support Michael in his role as a mortgage fraud prevention subject matter expert. I have appreciated his sharing of information regarding current trends in mortgage fraud and his ability to bring people together in our field. Michael is a true professional!"
Mark C. Munro, Broker Associate, RE/MAX Horizons
"Michael was the Mortgage Lender on several transactions in my Real Estate practice. His attention to detail and the rules of lending was excellent. When he moved on to Mortgage Fraud Solutions Group, he shared with me his book on Mortgage Fraud. His dedication to the prevention of this hideous crime is a credit to his character and integrity. I will recommend Michael to anyone who is looking for a Professional."
Donald J. Martin, SCRP, RAA, GAA, CDEI, Chief Appraiser, Chief Financial Officer, MartinAppraisals.com
"Michael is a detail oriented, high ethics do it right the first time, top draw professional. Michael has the courage to tell it like it is. There is no confusion with Michael, no second guessing, he tells it the way it is. Having Michael on the team is having the best there is."
John Cross, President, Cross Capital LLC
"Michael is person I can always count on to take on any task, explore any problem, and find a solution for it and will amaze you with the results that he achieves in short time frames. It is my privilege to work with Michael as he understands the dynamics of the mortgage business and uses his strong work ethic to deliver results when others fall short."
Gary Lacefield President at Risk Mitigation Group
"Mike has always been reliable and a man of his word. I would highly recommend his services." Top qualities: Great Results, Personable, Good Value
Michelle Schoen Owner, The Permanent Record
"Michael's love for his work shows in everything he does. I highly recommend him and his company to anyone in need of his services." Top qualities: Expert, Good Value, High Integrity
Bruce Michael, V.P. Marketing & M.I.S., Linear Capital
"I had the pleasure of working closely with Michael Richardson during his tenure as the CEO of Linear Capital (123Fund.com). His knowledge and leadership skills were apparent from the beginning. As his Marketing V.P., Michael and I worked closely together in the business development of Linear and executed many successful programs until we met the requirements for its exit strategy and Linear Capital was sold. To this day, I interact with Michael on a regular basis - and value his thinking and input on all of my mission critical projects. I know of very few people that have the ability to make things happen like Michael - and he is one of those rare individuals who keeps integrity and character into perspective, no matter what inevitable levels of success he achieves. And throughout the years, I am proud to say he has become a close personal friend as well. I highly recommend Michael Richardson for any endeavor he chooses to take on."
Chad Fabre, PE, President, Fabre Engineering
"Michael is an honest hard working person who will stand up for what he believes in."
