QuickMods
First American Loan Production Solutions streamlines data entry by enabling customers to enter a minimal amount of data via easy-to-use Internet screens, submit the order, and automatically receive a Fannie Mae, Freddie Mac, HUD Modification package, or a HUD Partial Claim package for any state.
Data entry/compliance control for Loan Modification Agreements
To create Loan Modification Agreements quickly and efficiently First American's QuickMods provides a browser-based data entry system designed exclusively for the production of HUD, Fannie Mae or Freddie Mac loan modification packages.
Documents are created based on HUD, Fannie Mae, and Freddie Mac requirements and First American provides compliance monitoring and maintains the documents based on agency requirements. Recording requirements are also incorporated for applicable documents. Through First American's existing quality control process, all forms are reviewed for accuracy and compliance at the time of initial development, and throughout the document lifecycle.
All modification packages created with QuickMods contain:
- Loan Modification Agreement (HUD, Fannie or Freddie version)
- Notice of No Oral Agreements
- Errors & Omissions Compliance Agreement
Freddie Mac packages also contain these additional documents, based on the loan:
- Modification Due on Transfer Rider
- 1-4 Family Modification Agreement Rider
- Modification Bankruptcy Rider
Through QuickMods, documents can also be customized and included, based on lender requirements.
QuickMods provides the highest level of protection possible for Internet communications, 128-bit encryption browser software (Microsoftİ Internet Explorer), to review and transmit data and utilizes a two-tiered structure of entity and user access to provide additional security for the loan data.
