Post Close Audits
Thoroughbred has extended the functionality of our Enterprise Records Tracking System to include the support of the Banking & Mortgage Post Close processes.
Built on the foundation of OPUS, OPUS PCA includes all traditional circulation management, retention control, and the ability to extensively configure your system without customization. To see more regarding OPUS, click here. However, after years of working with the mortgage industry, OPUS now provides tracking of documents during the servicing cycle.
- Loan Information - Detailed loan information is available in most PCA screens. This includes channel types and detail, borrower profiles, investor profiles, pool information and various loan related attributes. This information is refreshed on a real-time or nightly basis from the loan origination and loan servicing systems.
- Loan Document Review - Administrators can create multiple loan review checklists based on the type of loan and these checklists will be linked to the loan type at review time. The checklists will step users through the process of document confirmation and OPUS PCA will display or provide hyperlinks to loan information for validation.
Exceptions can be logged and notification of the exception can be directly e-mailed to the origination source, such as the correspondent, branch, or title company. Internally, these exceptions can be automatically assigned to a specialist, or assigned manually. Optionally, external sources can have a web interface into their exceptions to begin their own resolution. Exception codes are user definable and additional attributes allow for flagging temporarily unsaleable loans and setting priorities.
- Exception Resolution - Queues by specialist, by source, or by loan, allows for distribution of work and staff productivity measurement. Specialists have access to loan information and source contact information within their PCA screens which improves productivity while working exceptions.
Detailed dialogs can be recorded regarding resolution and exceptions can be closed with user definable able root cause codes. OPUS PCA includes a number of exception reports to measure staff productivity, source activity, and root causes.
- Trailing Document Tracking - As documents are received throughout the service life, OPUS PCA can track and monitor these documents for exceptions. Users can define attributes for all document types, or simply track them as 'Received' only. County recording information can be recorded as well as recording fees.
Reports regarding missing or incorrect documents are included as well as documents that are part of a pool.
OPUS Post Close Audit Features & Functionality
The OPUS Mortgage Post Close Audit module includes all the features and functionality of the OPUS File and Document Tracking system, plus extended features for the Banking and Mortgage Industries. For more about the OPUS File & Document Tracking.
Additional Loan Tracking Features:
- User definable document attributes
- Document status and status reporting
- Recording attributes
- County fee schedule and tracking
- Missing or unacceptable documents per Pool or Loan
- Available Loan content information from the Loan Servicing System is available for quick verifications
- User definable Audit Checklist Questions
- Track multiple Exceptions per loan
- Automatic email notification the Exception source when Exception is logged.
- Extensive Exception reporting which is available to be emailed to Exception source.
- Workflow queue for Exception Resolution which can be automatically assigned or routed based on type and priority
- Optional web interface for external Exception sources to review their issues and provide resolution
- Productivity reporting
For further information please contact us or request an OPUS demo.
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