Mortgage Banking Quality Control
Mortgage banking quality control is of the utmost importance. In order to process any mortgage loans, all agencies require submittal of a formal mortgage QC plan that strictly adheres to guidelines. Quality control plans are an essential part of mortgage QC. In fact, the agency approval of your business depends upon your written QC plan. Numerous clients have turned to the mortgage compliance advisor professionals at Cammarata for assistance in preparing this important document. We also offer other quality control mortgage services beyond mortgage QC plans.
Through a variety of analytical QC reports our staff assists mortgage bankers in increasing their mortgage quality control and risk mitigation programs.
Post-Closing Quality Assurance
Cammarata Associates offers many types of post-closing quality control and mortgage compliance reviews and audits. The most common post-closing quality control audits performed are the agency audits for mortgage bankers who sell their loans to the government sponsored entities (GSE) or service GSE loans. Mortgage bankers who are approved by Federal Housing Administration (FHA) will have to perform post-closing quality control. Many mortgage investors who purchase mortgage loans on the secondary market may require mortgagee correspondents or sponsored mortgagees to perform a similar type of post-closing quality control audit on loans.
Mortgage servicers are under tight regulations observation in how well they handle mortgage servicing quality control to include loss-mitigation compliance. The mortgage banker advisor teams that perform mortgage servicing audits will provide a measurement of wellness of a servicing pool and act as a mortgage compliance advisor to the mortgage servicer QC team.
Post-closing quality control audits show mortgage bankers the risk of the loan based on credit, collateral, and underwriting. These audits may include review of federal regulatory discrepancies.