The Importance of Mortgage Third Party Reviewers in Loan Quality Assurance
If you're working in the mortgage industry, you know how important it is to get things right the first time. From loan origination to investor sale, every step must be executed with precision. That’s where a mortgage third party reviewer (TPR) becomes your best ally. Today, we’re diving into what mortgage TPR providers do, why they matter, and how they help mortgage companies stay compliant, credible, and competitive. So grab a coffee and let’s break it all down in plain English! What Is a Mortgage TPR and Why Is It Important A mortgage TPR —short for Third Party Reviewer —is an independent company hired to examine closed loan files. These reviews are typically done before loans are sold on the secondary market. Essentially, they’re the inspectors ensuring each loan checks all the boxes. Why is this important? Because when loans don’t meet compliance or investor guidelines, it can lead to massive losses, legal issues, or repurchase demands. A TPR helps avoid those headaches....