FNMA and FHLMC's heightened emphasis on Quality Control for sellers and correspondents should not overly concern our customers.  These requirements are almost entirely current industry best practices that most responsible lenders already perform.  With the waves of repurchases that the agencies foresee, we believe the Loan Quality Initiative requirements open another avenue for reps and warranties based repurchase requirements.  Our products provide answers to the initiative's requirements including detailed checklists and procedures for each step. 

Two specific new requirements:

• Pre-Funding audit to include updated credit information and verification of new inquiries
• Complete TPO management process, including background/fraud checks

Other FNMA Specific Requirements highlighted

• Post-Closing Occupancy
• Tax Return Re-Verification

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