LYONS McCLOSKEY

Lyons McCloskey conducts onsite reviews and evaluations of mortgage lenders’ claim filing operations that are designed to assist the lender:  first, to identify any potential risk of noncompliance; second, to provide assistance in developing the tools needed to minimize the risk of noncompliance; and third, to provide recommendations to effectively manage the process on a going forward basis.  The reviews provide a baseline of the mortgage lenders servicing operation that enables the establishment of benchmarks to effectively measure performance.  The reviews include a quantification of any losses and recommendations how to avoid such losses in the future. To date, clients have realized millions of dollars in savings through the implementation of recommended actions.

Lyons McCloskey also conducts onsite reviews and evaluations of mortgage lenders’ FHA Loss Mitigation operating policies and procedures.  Mortgage lenders are required to evaluate the appropriateness of the FHA loss mitigation strategies before referring loans for foreclosure.  The reviews evaluate a mortgage lenders’ compliance with FHA’s collections, early intervention activities, loss mitigation, and foreclosure decisions.  The reviews are designed to evaluate a mortgage lenders level of compliance, risk of potential penalty and sanction, and overall effectiveness and efficiency in managing the FHA Loss Mitigation program.  These reviews have resulted in clients making significant operational changes that have dramatically reduced risk and improving the bottom-line.

Lyons McCloskey performs outsource quality control reviews of FHA approved lender’s loan origination and loan servicing operation to ensure compliance with FHA Quality Control Program requirements.  FHA requires approved lenders to conduct monthly and quarterly reviews of their loan servicing program and monthly loan origination reviews.   Lyons McCloskey selects the sample of loans for review in compliance with FHA requirements and evaluates the lenders compliance with the FHA program at the same time meeting FHA quality control standards.