The Participant Report compares all included loan participants against required watch lists and notifies you of any potential excluded parties.
This service instantly validates all participants in a mortgage transaction (including anyone involved in the origination, valuation, underwriting, title, closing, or servicing). The report ensures that no participants are on any excluded party lists and assists lenders in meeting compliance with regulations from the Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), the USA PATRIOT Act, and the Fannie Mae Loan Quality Initiative (LQI) (Validation of Qualified Parties). The report also confirms that the appraiser’s license is current.
- Ensure applicant’s are not on national exclusionary watch lists
- Protect your business by checking applicant’s personal information