In short

Work the exceptions, keep the record

CONCORD's exception list holds every conflict and every missing document in the loan file, each with a severity and the evidence behind it. The processor accepts, corrects, or requests a document from the borrower, then marks the file ready, and the underwriter reviews the reconciled summary. Every correction and decision is logged.

The workflow

From exceptions to a ready file

Create the loan and drop the file

The processor starts the loan and uploads the documents.

Review classification

Correct any misclassified document first.

Work the exception list

Accept, correct, or request a missing document from the borrower.

Mark the file ready

The underwriter reviews the reconciled summary and remaining conditions.

Oversight

Visible to the people accountable

Severity on every exception

So the most consequential conflicts are worked first.

Audit trail

Every correction and decision recorded, with who made it and when.

Operations view

Throughput, aging and exception rates across the team.

Questions

Common questions

What counts as an exception?

Any conflict between documents in the file, and any document the file needs but does not have.

Can a processor overrule an exception?

Yes, by accepting or correcting it. The decision is recorded in the audit trail.

What does the underwriter see?

The reconciled summary of the file and the conditions that remain.

Can managers see where files are stuck?

Yes. Operations managers monitor throughput, aging and exception rates.

Related

Keep reading

CONCORD overview

Mortgage loan file reconciliation: a clean, consistent file before it reaches underwriting.

Cross-document reconciliation

The same field compared across the whole file: name, SSN last four, income, employer, property address and loan amount.

Security & trust

Encryption, role-based access, audit trail, and an honest account of what we are compliant with.

How long do exceptions sit in your loan files today?

Work one file in CONCORD and see every exception, its evidence and its resolution.

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