Servicing Review

Comprehensive Analysis for Optimal Loan Servicing At OneDiligence LLC, we excel in analyzing servicing commentary to pinpoint the reasons behind an asset's underperformance and to assess potential risks and the likelihood of future re-performance. Our thorough review includes: 1. Current home value 2. Distressed property conditions 3. Occupancy issues 4. Borrower Income 5. Current loan/legal status 6. Borrower intentions and financial situation 7. Loss mitigation efforts 8. Title concerns 9. Borrower engagement with the servicer 10. Origination misrepresentations By scrutinizing servicing and collection comments, we identify critical factors affecting loan performance and risk. Comprehensive File Review We meticulously review notes and file documents to: 1. Articulate default triggers 2. Identify issues related to high-risk borrowers and guarantors 3. Recognize state specific statute of limitations that may impact future servicing rights 4. Address defenses to a lender's foreclosure attempts FHA Quality Control Review Our Federal Housing Administration (FHA) Quality Control Review targets early payment defaults (loans 60 days past due, FHA 6-10D). OneDiligence LLC performs a loan-level risk review to identify defects that might have initially disqualified the loan from approval. Single Point of Contact (SPOC) Compliance Since 2011, federal regulations require mortgage servicers to provide a single point of contact (SPOC) for defaulting borrowers. OneDiligence LLC assist lenders in maximizing homeowners' eligibility for various loan modification programs through meticulous loan file audits. CFPB Foreclosure Rules Compliance Under the CFPB’s regulations, servicers cannot initiate foreclosure proceedings until a loan is more than 120 days delinquent. Additionally, foreclosure cannot proceed while a completed loan modification application is pending, until: 1. The servicer provides a written determination of ineligibility 2. Any appeal period has expired Why Choose One Diligence LLC? Partnering with One Diligence LLC ensures that you receive expert analysis and comprehensive reviews that enhance your loan servicing strategies, reduce risks, and maintain compliance with regulatory requirements. Trust us to provide the insights and support you need to optimize your loan portfolio management.