We add value for our clients when under-performing loans are repurchased by the contractually responsible party for cash or exchanged for quality loans. Our highly specialized loan review and recovery services can be of particular value under current market conditions, which are demonstrating record levels of delinquencies, foreclosures, mortgage fraud, ethical miscues, imprudent underwriting and breaches of contractual representations and warranties. The Barrent Group offers a variety of loan review services, as well as recovery support.

Forensic Loan Reviews, including -

• Strategic File Selection -
  • Adverse sampling - focusing on key characteristics to maximize potential financial recovery
  • Statistical random sampling to support extrapolation of results

• Documentation Retrieval -
  • Including origination files, servicing records, securitization documents and comprehensive underwriting guidelines and loan program information

• Re-Underwriting Origination Files -
  • Determining whether loans were originated in accordance with the originator’s disclosed underwriting guidelines, as well as all contractual representations and warranties included in the securitization contracts
  • Evaluating varied loan types from all origination channels, including prime, Alt-A, sub-prime, wholesale, retail and correspondent lending - encompassing both first and second liens

• Analyzing Related Supporting Documents -
  • Detailed reviews of loan servicing records
  • Reviewing data tapes, assessing securitization contracts and evaluating mortgage loan schedules

Fraud Reviews and Investigations -

• Our Analysts use “state of the art” research and investigation software tools, to detect:
  • Undisclosed properties and mortgages
  • Falsified employment, income, occupancy or assets
  • Inflated property values
  • Bail-outs and Straw-Buyers

Compliance Reviews -

• Industry-leading software allows our Analysts to measure compliance with:
  • Home Ownership and Equity Protection Act (HOEPA)- Section 32
  • State and municipal high-cost / anti predatory laws and regulations
  • Truth In Lending Act (TILA)
  • State consumer lending laws

Reporting -

• Authoring comprehensive individual and aggregate loan summary review findings, specifically customized to meet individual client needs and expectations
• A secure web-site, provided to ensure complete confidentiality for all findings and results
• A proprietary database, which captures all loan data, deficiencies, default reasons, breach information etc. Fields may be added to accommodate client-specific reporting needs

Repurchase and Recovery Support -

• Counseling regarding development of repurchase strategies, including broad based support in drafting compelling repurchase demand letters
• Management level engagement in preparing rebuttal strategies and direct discussion with counter-parties in negotiating loans for repurchase
• Assisting clients in the recovery process, including litigation assistance. This support includes the evaluation of the need for, and formulation of legal strategy for, repurchase demands and other recovery efforts. It also incorporates assistance to our client’s legal counsel in preparing, presenting, and resolving the client’s case for repurchases or removal of loans from the collateral pool
• Expert Witness work

Barrent Bond Reports -

• Permits Residential Mortgage Backed Securities (RMBS) bond investors to confidentially and securely register their holdings and receive reports which reflect (anonymously) positions of other known bond owners in the same security(ies)
• Facilitates collaboration with other investors, to exercise recourse rights under the Pooling and Servicing Agreement(s) (PSAs). This enables bond investors to obtain loan files, via the Trustee, for forensic loan reviews
• Enables possible fee sharing for forensic loan reviews, by partnering with other bond holders