There are essentially six parts to a basic Quality Control Plan ("Plan" or "Program"). More about that shortly. Depending on the company's size, risk profile, complexity, loan products, and investor conduits, to name a few factors, the Plan's purpose is central to controlling a mortgage lender's originating environment.
Thank you for contacting us to handle your quality control auditing. We can accommodate any production size and audit virtually all loan products.
Please contact us here. We'll see that you speak directly with our audit management team.
I would add that it is critical to ensure that the Plan and the QC auditing are aligned. When regulators and investors review your QC reports, they want to see that you are implementing the requirements of your specific Program. When LCG conducts QC, we can provide a Plan that properly reflects your auditing needs. Be sure to discuss the Plan requirements when you speak to us.
You should consider establishing a baseline review of your quality control compliance. To effectuate this assessment, many company's use our QC Tune-up. This mini-audit provides substantive evaluation of your quality control function and provides a risk rating. It's cost-effective, hands-on, and quick. If interested, contact us here for information about the QC Tune-up.
Because you originate only conventional loans and your primary is Fannie Mae (“Fannie”), my response will address the QC requirements for conventional generally and Fannie in particular.
