PreQx | Pre-Funding Audit
Pre-Funding LOS System Loan File Audit with PreQx
Pre-funding audits with PreQx from Aklero enables a detailed examination of loan attributes in the original loan documents and the LOS System before the loan closes and returns the results in 24 hours.
Today lenders recognize that repurchase risk is prevalent and needs to be addressed early in the origination process and prior to closing. At the same time, lenders need a cost effective solution that enables them to review a greater number of loans while providing adequate time to rectify deficiencies.
PreQx lowers the cost of pre-funding reviews while significantly increasing the effectiveness and productivity of audit resources. Using our powerful document and data validation technology, Q-Close, PreQx is:
Once a loan has been “cleared to close”, PreQx pre-closing audit results are returned in 24 hours. This gives the lender ample time to address the issues identified.
PreQx reviews and analyzes both LOS data and original documents for issues that include the borrower’s income, property valuation and the latest credit report.
PreQx is the industry’s first and only automated, document based, pre-funding audit solution that solves the time and cost issue while delivering the most effective quality control safety net in the mortgage industry today.
PreQx removes the majority of manual audit tasks associated with pre-closing checklist audits allowing you to better focus on material risk factors.
Contact Aklero Risk Analytics today to learn more about this exclusive document and data validation technology for your pre-funding audits.