Randomly auditing 10% of your mortgages on a post-close basis is required by Fannie Mae, Freddie Mac and the FHA/HUD. If this is news to you, you need to contact us immediately… What is news to many lenders is how implementing document-related best practices reduce post-close quality control (QC) findings, minimize non-compliance fines, slash operating…
Attention Mortgage Servicers: visit us at the National Mortgage Servicing Conference & Expo 2016 in booth #315 Mortgage Servicing Quality Control Auditing Servicers know they need to meet QC audit requirements to do business with Fannie Mae, Freddie Mac, FHA, Ginnie Mae, and the Veterans Administration (VA). You also know that failure to comply can…
There has recently been some ambiguity regarding the timing of mortgage quality control (QC) that needs to be part of any mortgage originator’s mortgage QC plan with FHA and Fannie Mae. FHA QC Timing Response Previous to the implementation of the new FHA 4000.1 Handbook, FHA’s QC timing requirement was to have your initial audit…