Field Audit

Quarterly, semi-annual, or annual basis.

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Our periodic audit service, also known as a “field audit,” covers many topics, with a sample size reviewed.

Similar to our Reporting, Portfolio Management, and Due Diligence services, it is a lighter version of all three. Typically, we are hired by lenders or investors to perform audit services on a quarterly, semi-annual, or annual basis.

  • Receive requisite loan data extract, payment transactions, and collection notes.
  • Perform loan data review, including month-end reversals, month-end delinquency and defaults, and other metrics based on the parties’ agreed scope.
  • Perform collection activity review, including collector gapping, activity by delinquency bucket, days between calls, and other metrics based on scope further agreed by the parties.
  • Perform a collateral document and account review, including a statistically sound sample of accounts from the portfolio for consistency with contracts and titles, statements and other letters, payment histories, and other metrics based on the parties’ agreed scope.
  • Perform a borrowing base certificate review verifying the reconciliations and any exceptions.
  • Provide periodic reports of CSF’s findings to the client (i.e., quarterly or as agreed by the parties).

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