StoneHill Group Launches New Web-Based QC Tool

The StoneHill Group has announced the launch of a new software solution to help mortgage bankers meet their growing compliance requirements at all stages of the loan cycle. LES (Loan Evaluation Software), a Web-based tool that can be fully customized to help mortgage bankers manage risk, while reducing time-in-file costs, was soft launched in June of this year and is now available to mortgage lenders of any size. Pre-funding reviews and post-closing audit requirements have grown tremendously in the years since the housing crisis, which have led to mortgage lenders spending significant time and cost to review loan files internally or outsource the work to third parties. Designed to be affordable, flexible and easy to use, LES transforms the pre-funding and post-closing review process from hours to just minutes while simultaneously enhancing clients’ ability to manage risk through enhanced reporting. "The pressures on today's mortgage bankers to produce and demonstrate fully compliant loans are enormous," said David Green, president and CEO of The StoneHill Group. "We developed LES to give mortgage bankers a fast, effective and affordable option to manage the QC process and QC vendor reviews. It can be used as a stand-alone solution or as a complement to The StoneHill Group’s existing QC and fulfillment services. LES represents everything we’ve learned about loan quality after nearly 20 years in the business, so we are confident there’s nothing on the market like it.” With LES, mortgage bankers can: ►Perform and track a sampling of loan files for quality ►Conduct due diligence reviews and data scrub ►Meet the audit requirements of any partner or agency ►Utilize reporting tools to identify areas of risk