Comprehensive Auditing Features

Cascade offers detailed cash audits and underwriting audits that oversample suspicious transactions, ensuring thorough scrutiny and allowing borrowers to upload supporting documents for review.

Cash Audits with Oversampling

Cascade generates targeted cash audits that oversample suspicious activity based on proprietary algorithms, ensuring that audits focus on high-risk transactions rather than randomly selecting items. This feature allows borrowers to upload supporting documents for each flagged transaction, enabling investors to easily review the evidence and determine its sufficiency. Audits can be created at any frequency and sample size, with comprehensive final audit reports generated for internal compliance purposes. This streamlined approach enhances transparency, reduces risk, and supports informed decision-making for all stakeholders involved.

Customized Underwriting Audits with Oversampling

Cascade generates underwriting audits that utilize proprietary algorithms to specifically oversample suspicious disbursements, enhancing the scrutiny and accuracy of the review process. Investors and borrowers can collaboratively establish the required documentation for each disbursement, ensuring clarity and accountability throughout the transaction. Borrowers are responsible for uploading all necessary evidence prior to investor review, who then assesses the acceptability of the provided documentation. This structured approach streamlines the auditing process, strengthens compliance, and fosters transparent communication between investors and borrowers, ultimately improving the integrity of the lending process.

The Payment and Underwriting Audit Modules in Cascade can be found in the Manage Module:

To generate a new Audit, select the Payment or Underwriting tab as needed and click on the  Generate Audit button: 

Configure the Audit according to the Date range, required uploads, display and sample size: 

Add the subscribers who will be uploading the proof and click "Next" to confirm and finalize. 

Any user will be able to upload Evidence related to the Underwriting Standards or Payments when they click the "Review" button: 

The following screen will pop up showing the Evidence that needs to be uploaded for a certain LoanId:

After the Evidence is uploaded, the Auditor Role will be able to Reject, Approve or Request More Information on each of the LoanId's that were generated for the Audit. 

Additional features

- Audit Subscribers: click on the bell and add any subscribers that should receive email notifications. 

- Void Audit

- Refresh button