Service Details
Top of Mind Networks offers two areas of Compliance:
Service Offering One: Compliance (State and Federal Regulations)
Mission: Provide objective third-party analysis to complement our clients' internal Quality Control procedures.- Performed on 100% of our clients' loan files *
- Detects trends amongst loan officers and monitors compliance with evolving State and Federal guidelines
- Includes tests pertinent to HOEPA, FNMA, TILA, OFAC and HMDA regulations
- Also includes comprehensive file-by-file and summary reporting, complete with suggestions on how to improve compliance on future loans
Service Offering Two: Fraud Analysis
Mission: Provide mortgage firms with a mechanism to identify, prevent and deter potentially fraudulent activity- Recommended on one loan per loan officer per month
- Includes third-party database screening provided by Interthinx
- Also includes an extensive "hands-on" analysis focusing on common practices in mortgage fraud by TOMN Certified Fraud Examiners
* In the case of a 1st + 2nd mortgage, TOMN will randomly select one of the two files for compliance review.
Attention Lenders!
A typical compliance firm will audit only 10% of your files and can charge upwards of $300 per file. This makes analyzing all of your loan files cost-prohibitive. The question becomes: Which 10% of your files do you audit?
Furthermore, what's the chance the 10% they choose is the same 10% your State auditor is going to choose? The Top of Mind Networks compliance solution is affordable enough to allow our clients an analysis on 100% of their files.