Up at Night: Poor Initial Grades For Securitization
At times sellers don’t have enough documentation to send their files for diligence but send them in anyway and receive poor initial securitization grades and lengthy review times.
If files are not complete, in addition to a poor initial grade, Originators must spend substantial time chasing documents, which may result in additional fees from their TPR vendor, delays in putting the loans in a security or closing on a trade.
With Acuity, SitusAMC’s document classification system, you can perform a fully automated missing document check prior to sending the documents in for other services, be notified of what is missing and also when the package is complete per your requirements. With a more complete file, you can rest assured that your diligence reviews will be complete and your time to execute your exit strategy will be significantly reduced.