Mortgage Quality Control: QC Plan
Why Do I Need a Quality Control Plan?
Many investors and agencies, such as the CFPB with TRID, FHA, Fannie Mae, and Freddie Mac require a written quality control plan. For example, before your organization is approved with an investor, they may want to review your quality plan. See HUD Handbook 4000.1 Section V, Fannie Mae Single Family Selling Guide D1-1-02, Freddie Mac Single-Family Seller/Servicer Guide 48.1
Our Quality Control Plan Helps You Meet Agency Guidelines
Our Quality Control Plan was created based off of the requirements found in Chapter 7 of the HUD Handbook 4060.1. After comparing our QC Plan to the requirements of Fannie Mae and Freddie Mac, we have found it to be a comprehensive plan, covering both FHA and Conventional Quality Control regulations.
Components of Our Quality Control Plan
- Office and Branch Review
- Record Keeping
- Timeliness of System
- Selection Procedure: origination and closing Documents
- Reporting of Findings