AUDIT & BANKRUPTCY
Are any of these your challenges?
Misapplication of payments
pre-petition and post-petition payments
of service transfers from active or discharged bankruptcy
unfiled payment change notices
unfiled post-petition fees and costs
Inaccurate or inconsistent CFPB monthly statements
Inaccurate delinquency reporting
NBS audit services have been used by 6 of the top 9 largest banks, and 3 of the top 5 largest mortgage servicers in the U.S.
NBS remediation project audits have satisfied Consent Orders from the Office of Comptroller of Currency as well as the United States Trustee's Executive Office for our clients. Our audit format and process overview has been provided to the Mortgage Committee of the United States Trustee's Office in Washington, D.C. for our clients and we have provided presentations to the members of the OCC Oversight Board.
Audit services have been provided to major banks, servicers, credit unions, and finance companies to correct systemic servicing issues, include the following items:
Assessment of current state of Bankruptcy case
Analyze payments per case requirements
Court ready post-petition payment histories for use in support of litigation
Proof Of Claim and system validation
Confirmation of timely and accurate filing of Payment Change Notices
Confirmation of timely and accurate filing of Post-Petition Fee Notices
Acquisition Audit to identify prior service inaccuracies and validate boarding accuracy
Confirmation of monthly statement data elements through creative solutions around system of record limitations