Credit Risk / Repurchases :

Coester Appraisal Group offers credit related services to existing and new clients. These services include verification of loan documentation, credit underwriting, quality control, repurchase validation, due diligence, and compliance verification. A general description of the credit services are listed below. Each service is customized based on each client’ s needs and the service(s). Pricing will be determined based on the client’s customized needs. 

Verification of loan documents  - Work with third party vendors or clients in obtaining documentation for credit, income, and asset verifications.   ;

• Credit reports - Verification of auto loans, revolving debt, real estate and other debt instruments.
• Income documentation - Review of paystubs, W2’s, verifications of employment (VOE), utilize IRS 4506, Dunn & Bradstreet, reasonability for stated income, etc. 
• Asset verification - Review of bank statements and other asset statements, verifications of deposit (VOD) 

Underwriting loan documents – Ensure loan documentation supports the loan application based on the client’s underwriting and program guidelines. 

• Review and calculation of debt liabilities.
• Review and calculation of income supporting documents.
• Review and calculation of asset supporting documents.
• Review and approval of security (appraisal) used for lending purposes.
• Approve or deny loans after underwriting the loans to the client’s guidelines. 

Quality Control – Re-verification of loan documents after closing. 

• Send re-verifications for debts/liabilities, income and asset documentation.
• Obtain field review or retrospective appraisals for re-evaluation.
• Research public records, MLS and other data sources.
• Produce reports for clients. 

Buyback and Repurchase Requests – Providing credit related services and appraisal services to clients. 

• Verify or re-verify loan documentation. Obtain and send information to client.
• Underwrite or re-underwrite loan program. Provide results to client.
• Retrospective appraisals, reconciliation of original and review appraisals.
• Formulate response letters for clients.
• Produce reporting for clients. 

Due Diligence – Produce teams of underwriters to audit loans included in security instruments. 

• Underwrite loans according to client’s program guidelines.
• Send team of Underwriters to off-location sites.
• Manage tight timelines and logistics.
• Convey findings to client. 

Compliance review – Review and provide findings for all state and federal lending obligations. 

• Ensure state and federal disclosures were sent in accordance with applicable laws and all signatures obtained correctly.
• Re-calculate good faith estimate, truth in lending statement.
• Ensure loans are not considered predatory lending.
• Produce reporting for clients. 

All credit services will be determined by the client’s instructions including but not limited to program/product guidelines, underwriting guidelines, state and federal compliance, and contractual obligations. 

Service Level Standards :  Service levels will be determined by each client’s needs and the service(s) selected. 

Initially, credit services will be offered for first and second lien mortgage loan products including fixed rate, adjustable rate, conventional, and non-conventional products. Credit services will be expanded to include auto loans, revolving debt, student loans, and other asset backed loan programs (ABS). 

This statement of work is intended to provide a general description of the services CAG is offering. Each credit service will be expanded in detail to include the needs of each client. The services listed above are not limited to the descriptions contained herein.

Credit Risk / Repurchases :

Coester Appraisal Group offers credit related services to existing and new clients. These services include verification of loan documentation, credit underwriting, quality control, repurchase validation, due diligence, and compliance verification. A general description of the credit services are listed below. Each service is customized based on each client’s needs and the service(s). Pricing will be determined based on the client’s customized needs. 

Verification of loan documents - Work with third party vendors or clients in obtaining documentation for credit, income, and asset verifications. 

• Credit reports - Verification of auto loans, revolving debt, real estate and other debt instruments.
• Income documentation - Review of paystubs, W2’s, verifications of employment (VOE), utilize IRS 4506, Dunn & Bradstreet, reasonability for stated income, etc. 
• Asset verification - Review of bank statements and other asset statements, verifications of deposit (VOD)  

Underwriting loan documents – Ensure loan documentation supports the loan application based on the client’s underwriting and program guidelines. 

• Review and calculation of debt liabilities.
• Review and calculation of income supporting documents.
• Review and calculation of asset supporting documents.
• Review and approval of security (appraisal) used for lending purposes.
• Approve or deny loans after underwriting the loans to the client’s guidelines. 

Quality Control – Re-verification of loan documents after closing. 

• Send re-verifications for debts/liabilities, income and asset documentation.
• Obtain field review or retrospective appraisals for re-evaluation.
• Research public records, MLS and other data sources.
• Produce reports for clients. 

Buyback and Repurchase Requests – Providing credit related services and appraisal services to clients. 

• Verify or re-verify loan documentation. Obtain and send information to client.
• Underwrite or re-underwrite loan program. Provide results to client.
• Retrospective appraisals, reconciliation of original and review appraisals.
• Formulate response letters for clients.
• Produce reporting for clients. 

Due Diligence – Produce teams of underwriters to audit loans included in security instruments. 

• Underwrite loans according to client’s program guidelines.
• Send team of Underwriters to off-location sites.
• Manage tight timelines and logistics.
• Convey findings to client. 

Compliance review – Review and provide findings for all state and federal lending obligations. 

• Ensure state and federal disclosures were sent in accordance with applicable laws and all signatures obtained correctly.
• Re-calculate good faith estimate, truth in lending statement.
• Ensure loans are not considered predatory lending.
• Produce reporting for clients. 

All credit services will be determined by the client’s instructions including but not limited to program/product guidelines, underwriting guidelines, state and federal compliance, and contractual obligations. 

Service Level Standards:  Service levels will be determined by each client’s needs and the service(s) selected. 

Initially, credit services will be offered for first and second lien mortgage loan products including fixed rate, adjustable rate, conventional, and non-conventional products. Credit services will be expanded to include auto loans, revolving debt, student loans, and other asset backed loan programs (ABS). 

This statement of work is intended to provide a general description of the services CAG is offering. Each credit service will be expanded in detail to include the needs of each client. The services listed above are not limited to the descriptions contained herein.