My problem is that I have a CEO who does not want to do pre-funding quality control. When I insist on it, then we do it for a while. But he cuts it off again and again. He says our investors only care about post-closing quality control.
Last month, one of our investors wanted to see our pre-funding quality control reports and checklists. Well, we had the checklists, but we only had a few pre-funding QC reports. Somehow, the word got out, and other investors are now asking for these things.
Yesterday, we got a letter from Fannie Mae that singled out that we did not do pre-funding QC. The CEO called us into his office, showed us the letter, and admitted he was wrong. In the meantime, he's telling us to put pre-funding QC into action immediately.
I am so frustrated I could scream! This was all avoidable. I want you to write something that I can show the CEO so that he understands what has happened and I don't have to deal with him again on this issue.
Why is pre-funding quality control important, useful, and required?