Managing Repurchase Exposure & Risk
PMF Third-Party Neutral Quality Control Reviews
Fannie Mae’s new Loan Quality Initiative (LQI) mandates:
A Quality Control Plan
exhibits the policies and procedures that companies consider the responsibility
of every employee. This plan follows both requirements of key government
agencies and primary mortgage investors and is a vital resource to ensure a company’s
mission is achieved.
Mortgage Origination needs to be in compliance with Federal and State laws and an effective Quality Control Plan is necessary to ensure that loans are salable in the secondary market and follows Fannie Mae’s Loan Quality Initiative (LQI):
A Quality Control Plan can be labor intensive and costly if not developed thoroughly or not implemented strictly. Make sure your Quality Control Plan is complete, your employees are trained, and your internal control audit and compliance checks on loans are proving the quality control standards set in place. It is Consistency in process and enforcement compared with the implemented written Quality Control Plan that will demonstrate integrity within your mortgage operations.
Quality Mortgage Origination “Third-Party Neutral” quality control is required to stay in business, to avoid unacceptable risk for your company, the correspondent investors and all governmental agencies.
Quality Control Mortgage Loan Review Services include:
Mortgage Origination “Third-Party Neutral” quality control reviews are critical and required to stay in business, to avoid unacceptable risk for your company, the correspondent investors and all governmental agencies.