Why do I need a mortgage compliance quality control (QC) plan?
Many investors and agencies, such as FHA, Fannie Mae, and Freddie Mac, require a written QC plan.* Quality control is...
What am I required to audit?
To comply with FHA, Fannie Mae, and Freddie Mac quality control guidelines, the general rules are to: Audit 10% of...
How often should I perform quality control audits?
FHA guidelines: Audit monthly, if closing more than 15 loans per month Audit quarterly, if closing 15 or fewer loans...
Who can perform quality control audits?
Quality control audits may be performed in-house, if you establish a unit solely for quality control. The staff must be...