Data is the cornerstone of everything we do, the primary language of our industry, and the goal should be nothing short of 100% accuracy. Flawed loan and/or servicing data can derail trades, ruin relationships, and blemish reputations. Banks and mortgage companies have spent billions in recent years on settling litigation stemming from allegations of misrepresentation of data in mortgage backed securitizations.
Disclosing data properly can protect you against litigation, put-backs, agency fallout, and denied mortgage insurance claims. Lakewood has an obsessive passion for accuracy of data and seeks to help your company rise above its competitors with a superior quality of data. Each member of our team shares a perfectionist attitude toward data along with the experience and aptitude to “get it right.” Since surprises in the mortgage market are almost never positive, we want to eliminate them for you.
Lakewood’s team can perform quality control of data at origination, at securitization, or in preparation for a loan sale. We have experience finding data discrepancies for buyers and sellers of loan pools and performing quality control on samples of work done by other due diligence companies. Our QC experience also includes data to be used in loan level exhibits to expert reports for litigation.