Solutions for QA/QC

If you are looking to make your mortgage more marketable and business more profitable, a strong quality control mechanism has to be an integral part of your mortgage process. We have wide experience in assisting lenders and credit unions establish a quality control program that meets Fannie Mae, Freddie Mac, FHA and other investor guidelines.

Our End-to-End Mortgage QC Audit Services

Compliance QC

With this service we ensure that every regulatory compliance issue is addressed, and you are able to meet the specifications of your quality control plan. Our QC services ensure compliance to:

  • TILA RESPA Integrated Disclosure
  • Home Ownership Equity Protection Act
  • Equal Credit Opportunity Act
  • Fair Credit Reporting Act
  • Home Mortgage Disclosure Act
  • Homeowners Protection Act
  • Fair Housing Act
  • State Specific Requirements

Pre-Underwrite QC

This service is designed to review a file before it gets submitted to underwriting so that underwriters have all the documents needed to take a credit decision. Our services include:

  • Review borrower credit report, appraisal report and title report for possible issues
  • Reverify income, assets, liabilities, and other things used to qualify the borrower
  • Compare Loan Estimate, Initial and Closing Disclosure, and 1003 Details of Transaction
  • Reverify adherence to lending guidelines of all agencies

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Contact us now to outsource mortgage QC service needs.

Pre-Closing QC

This QC check is performed before the loan gets funded and ensures there are no outstanding conditions (Underwriting or Closing conditions) on the file. Our services include:

  • Validate all required documents are in the loan file
  • Check integrity of data entered in AUS
  • Validate Appraisal and Title report
  • Review of employment documents / income calculations with supporting documentation
  • Review of assets needed to close or meet reserve requirements

Post-Close QC

This is the final QC stage where a thorough review of the files is carried out to validate compliance and credit decision. In keeping with Fannie Mae’s post-closing QC requirements, we assist the lender in reviewing at least 10% of the loan it originates. We do QC check to:

  • Evaluate underwriting decisions and approval conditions by going through supporting documents
  • Review for compliance with applicable federal / state laws and regulations and with investor and agency guidelines.
  • Compare disclosures with source documents for ensuring accuracy
  • Check all required legal / other documents in the file
  • Check for frauds and red flag Indicators

Inline QC

An Inline QC process ensures there are no last-minute surprises for the lender as well as the borrower. We review all critical documents as soon as they are received by the lenders and flag issues if any. This process ensures issues are identified and addressed early and helps creates a better customer experience. Our Inline QC scope includes but is not limited to the following types of documents:

  • Asset Documents
  • Income Documents
  • Mortgage Insurance
  • Home Owner Insurance
  • VOEs (Written/Verbal)
  • Gift Letter
  • IRS Transcripts

Govt Insuring Audits

We perform these audits to ensure the mortgage file meets all FHA/VA insuring guidelines. Audit results are presented to the lender identifying issues with particular mortgage files and recommendation on how to fix those issues. An early audit helps in completing the Govt. Insuring function timely.

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