Repurchase Defense
Pyramid Quality Assurance, LLC provides resolution solutions for complex loan repurchase demands and mortgage insurance rescissions. We assist the lender in preparing the “Lender Rebuttal” in response to a repurchase demand and/or indemnification from Investors, PMI companies, and the GSE's. PQA creates a comprehensive written analysis of the loan file and additional documentation specifically addressing the issues raised in buyback demands, indemnification demands or insurance rescissions.
We supply real answers and effective solutions for your mortgage repurchase claims.
Why should you use Pyramid? Because of our experience successfully rebutting buyback demands and insurance rescissions, and our dedication to the defense and rebuttal side of the equation. Our largest competitors all work both sides of the fence - helping MI companies and Big Banks push loans back, then offering their services to you to help rebut the demands.
Really. We don't do that.
One of our Quality Assurance competitors recently set out to offer themselves for repurchase defense work. Their marketing piece has made the rounds and consists of a series of obvious questions that can be boiled down to "do you know what disasters are hiding in your loan files?"
Not helpful, but a good indication that they have no significant experience in this area. You are exposed for any loan that goes into default, no matter what product it was or when it was originated. That is the reality, and that is why the overall industry exposure to repurchase claims is estimated to exceed $22 Billion dollars.
Because of our extensive experience with real buyback demands and mortgage insurance rescissions, we know that each buyback or rescission case is unique. The vast majority of repurchase claims are for loans that met all guidelines at the time of underwriting, but you would not know that from the language of the demand. It takes considerable experience to analyze the demand, evaluate the loan file and determine where you really stand. We don't think you should give in just because a bigger player demands it.
We have successfully handled many different types of repurchase claims, including:
- Undisclosed liabilities
- Misrepresentation of income or employment
- Misrepresentation of credit
- Identity theft and/or Social Security Number discrepancy
- Misrepresentation of assets
- Misrepresentation of occupancy
- Misrepresentation of property value
- Property flips based on inflated appraisals or other false characteristics
- Misrepresentation of the subject property characteristics or comparables
- Sale of fraudulent loans or double selling of loans
- Mishandling of escrow funds or custodial accounts
- Diversion of sale proceeds
While these allegations may seem insurmountable, we have successfully rebutted claims like these and many others in the majority of cases we have handled. That's right, the majority of cases. We have saved our clients millions of dollars.
If your loan repurchase or mortgage insurance rescission problem goes to litigation, we can assist your legal counsel with expert file review and analysis. Our litigation experience includes one of the largest mortgage insurance rescission cases to ever hit the courts.
Real Experience. Real Answers. Real Solutions.
Isn't that what you want from your Repurchase Defense and Quality Assurance solutions provider?
Let PQA be your Total Repurchase Defense and Quality Assurance Solution. Let us show you how.
