I refinanced my brother-in-law a few months ago, from an ARM to a fixed, and he just called me because he got an Audit Survey from Wells Fargo, asking him some questions about his loan process.  he mainly called to make sure it was a legit letter.  I hadn't ever heard of it, so he read off the questions to me.  It asked him if he was asked to sign his application blank or incomplete, and if he was asked to omit anything from the application.  There were a few other generic questions, but these two stuck out.  It just seems odd that they would send something like this out, and I wonder if there is something more too it.  I am a broker, so it could jsut be a checkup, but I wanted to know if anyone else has heard of these surveys, or has had a customer call them about it.

The witch hunt is on.  Did they ask him for a blood sample?  This could be next.

I work in the payroll department of a medium-sized company, and I have started to see some of these audits. The bank asks us (the employer) to verify the borrower's income again. They also provide copies of the original loan paperwork that the employer signed months ago, and ask us to verify that the information was indeed provided by us and signed by someone at our company. I don't think it is a witch hunt, just the banks checking to be sure there is no fraud.

Same last name?

Looks like QC for fraud. Since Wells is the funding bank and the servicer, they don't want any skeletons in their closet. This will become more and more common for TPO originations.

I have to have independent QC audits done on 10% of my FHA files to keep my FHA license. The firm that does my QC mails letters to the borrowers asking similar questions.

Keep everything clean as a whistle and you can sleep well at night.

No not at all.

It sounds like the file was pulled for a post close QC audit.   Re-verifications are a normal part of the QC process. 

what's with the tag George?

Maybe they learned some lessons from another well known lender who has a class action suit against them and they are getting a head start.

Jason, it's a typical QC post closing audit, no worries.

The form your brother in law got is a standard QC form.  Any lender worth their salt should be asking these questions (signing application in blank or being asked to omit information)  Those kind of practices led to the borrowers who can't afford their mortgage payments.  Your brother in law should be glad Wells Fargo cares enough to make sure they aren't being sent fraudulent files.  I'm surprised you've never heard of this kind of letter.  All of the places I've worked in Mortgage Banking have routinely sent this type of letter to all of the loans that were chosen to be run thru the QC program

Jason- Did you do a NINA? 

Are you crazy Bob, of course it wasn't a NINA.  You can't do those anymore.  This was a No Doc!!  LOL.