Huron Consulting launches mortgage loan file review service

Business consulting firm Huron Consulting recently announced that it has added a new item to its service menu - a mortgage loan file review service that charges clients per loan processed, not per hour spent on the review procedure.

Huron reportedly saw the need for such a service in the aftermath of the foreclosure crisis, during which many lenders found themselves under pressure from government entities and private litigants to analyze large volumes of loan files accurately and quickly. To meet clients' needs, Huron has put together a team of more than 300 real estate and legal industry professionals who are prepared to analyze loan records that are unique to residential mortgage loans.

"Banks and other lending institutions need a better option," said Robert Rowe, the managing director of Huron Legal. "The stakes are high in the aftermath of the mortgage crisis, and Huron Legal is offering a smarter way to review loan documents and stay in step with regulatory requirements, while considering their bottom line."

According to Huron, the per-unit pricing structure also offers significant savings potential to its clients. It claims that one of its clients saved $20 million after switching from an hourly billing loan processing system.