Cover Your Assets (CYA) - Part 3
Filed under: Cover Your Assets — admin @ 12:00 pm
Read part one here and part two here…
Does your operational process include fraud checks on individual borrowers and properties prior to underwriting, or at the very least before closing, as part of your internal due diligence process? There are a number of automated tools that provide easy access to CYA in this arena. While they do not guarantee prevention of fraud, such effort goes a long way in the demonstration of a good faith effort to prevent any such occurrences.
To be continued…
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