How to Choose the Right Mortgage QC Partner

You might say that finding the right mortgage QC partner for your organization takes a little due diligence.

Choosing a vendor is no small task and it’s important to carefully vet a potential partner to ensure pre-fund and post-close QC compliance. Whether you’re new to sourcing a QC vendor or you’re unhappy with your current partner, knowing the right questions to ask is critical to the process of finding a partner who will meet your needs.

Mortgage QC reviews are too important to entrust to a partner that isn’t making the grade. If you are not convinced that your current vendor is meeting your expectations and needs, it’s probably time to find one who will. But how do you know? And how should you choose? Continue reading to find out!

Signs You May Need a New Mortgage QC Partner

There are several warning signs that indicate that it’s probably time to move on from your current mortgage quality control vendor. One of the most important ones to watch out for is a lack of findings. If your QC partner hasn’t surfaced any findings, chances are they aren’t providing diligent services. There should always be a certain level of findings issued.

Turn times are also critical to pay attention to. Your vendor should be meeting promised turn times consistently under normal market conditions. If they’re not, it might be time to look for a new partner that can.

Questions to Ask When Vetting Vendors

When vetting a potential partner, you will want to ensure that your candidates have deep knowledge and experience in the industry before moving forward with them. Some key questions to ask include:

• What is the vendor’s reputation among your peers?
• What relationships and experience does the vendor have with the agencies your company deals with the most?

You’ll also want to ask about their reporting processes and platforms along with willingness to review test files in order to get a sense of their experience.

Additionally, you’ll want to find out if they are committed to providing top-notch customer service and if they are capable of meeting your exact needs. Try asking:

• Does the vendor prioritize collaboration?
• How do they respond to questions and needs?

Hint: The right partner will have lines of communication open at all times to ensure client expectations are being met.

Find the Right QC Partner Today

The best QC partners do more than provide timely and accurate reports. They act as an extension of your team and a partner in the success (and profitability) of your organization. Learn more about how to choose the best vendor for your mortgage company by downloading our free guide to finding the right QC partner. It provides even more questions that you should ask your QC vendor candidates and signs that you may need a new partner.

You can also contact us to speak to a member of our mortgage team, which is made up of industry experts with decades of experience and deep knowledge of agency requirements. And with strong agency relationships, and world-class customer service, we go the extra mile in providing our clients with the right QC solutions for their needs.