Mini QC Pack for Small Brokers - Substantial Savings over our standard products

The complete quality control plan is more than most brokers need.  We have compiled this comprehensive resource for you to use as a foundation for your quality control procedure documentation.  This meets the requirements of most investors.

Key facts:

Brokers perform many production QC elements, but the wholesaler/investor usually double checks the file, so often the importance of this is minimized.  BUT if you review your broker agreements, they normally call for you to have a QC plan in place.  This doesn't necessarily mean you will perform Post-Closing audits, compliance reviews, and the whole scope of quality control that a lender requires, but it does mean that you will have some basic elements in place. 

1.)  Application Quality Control - this is your application checklist, to make sure that you are requesting everything that a borrower needs.

2.)  Underwriting Submission Checklist - this is your pre-underwriting quality control that checks for red flags and other elements and makes sure that your borrower isn't trying to perpetrate fraud.

3.)  Post Closing compliance and financial audit.  You want to make sure you have all of the required documents in the file when you receive your funding check so that you can close the file and be sure that if you are audited you have all the required paperwork in file and that you haven't overcharged the borrower. 

4.)  Fraud checks - You do a credit report - that has a fraud guard element, so it's part of your quality control.  Include this.  There are half a dozen other Fraud prevention steps that we take as a matter of course, and we don't even realize these are quality control measures.  These need to be documented. 

This product is sold "as-is" and does not come with our 100% guarantee.  If an investor requests further information, you must upgrade to the full quality control and compliance plan to receive the guarantee.