HUD AUDIT SUPPORT & CONSULTING SERVICES
A servicer or investor decision to engage CRFS on a consulting project yields significant benefits beyond the provision of portfolio level operational enhancement and loan level risk mitigation analysis. Clients engaged with the CRFS Consulting Team gain access to experienced professionals possessing a unique skill set featuring tremendous capabilities in these and other critical areas:
- Mock HUD Audit
- Hands-on support in audit preparation and actual HUD Audit
- Timeline and Expense Management review
- Identification and mitigation of monetary risk
- EBO, MSR, NPL default and financial review
- Accelerated Asset Disposition Review
- Claim Loss Analysis
- Pre-acquisition Portfolio Due Diligence and comprehensive Data Analytics
- Operational Enhancement Consulting
- Vendor Oversight
A key area of expertise for CRFS is our HUD Audit Services program, built around a consulting team with over 75 years of claims experience. CRFS can assist you with Audit readiness as well as offer support in becoming compliant with the ever-changing regulatory landscape. We’ve developed a proprietary audit preparation routine that leads to reduced findings on the initial reports, then we work with the auditors to support claim decisions with regulatory documentation that gets initial findings reduced or eliminated. On a post-audit basis, we partner with our clients to identify process improvement opportunities that help reduce the risk on future claim filings.
Mock HUD Audit
- Simulation of the actual HUD audit experience complete with sampling selection, initial findings report, rebuttal opportunity and final audit report, which is inclusive of an extrapolation calculation based on error totals
- Output includes an itemized list of all findings as well as an Executive Summary identifying areas for remediation and suggested next steps
Onsite Audit Support
- Customizable offering where CRFS can assist with audit preparation prior to the auditors arriving on-site and carry those services forward throughout the duration of the audit
- Qualified, experienced CRFS staff will be present during your audit to assist with the auditor interactions as well as facilitate the preparation of additional supporting documentation to assist with the rebuttal process