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Broker and Non-Delegated Correspondent Quality Control Plan

Includes Anti Money Laundering and SAR Reporting
For Non-delegated/Non-Closing Correspondents (Mini-Corr) and Brokers
 
This product offers substantial savings over our standard products designed for banks and lenders.  We have stripped out the lender/correspondent functions from our Investor/Agency Fraud Audit Quality Control Plan, because it is more than most brokers need.  

Small brokers have limited time to spend composing, editing and updating their quality control and compliance plans.  We have compiled this comprehensive resource for you to use as a foundation for your quality control procedure documentation.  We have addressed all of the requirements imposed by wholesalers and states for basic quality control or quality control/compliance. 

Key facts:

Brokers perform many production QC elements, but the wholesaler/investor usually double checks the file, so the broker's role in this level of review is minimized.  BUT if you review the standard broker agreement it normally calls 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; application quality, financial audit, compliance audit, fraud red Flags and Anti-Money Laundering/Fraud Reporting (SAR).

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

Table of Contents and Sample

Broker QC Plan Table of Contents
File Size: 194 kb
File Type: pdf
Download File

Purchase Broker QC Plan Download

If you need more than just the QC plan, you can purchase the Compliance Pack for Brokers/Non-Delegated Correspondents which includes Broker Plan plus SAFE Act, Anti-Steering, FACTA ID Theft, LO Comp, and all other requirements 

Download Broker and Non-Delegated Correspondent QC Plan

Price - $295
discounted to $195 for Members of Industry Trade Associations
Products deliver electronically by e-mailed download link - usually within 5 minutes. While you're waiting, why don't you sign up for updates!
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  • Home
    • Search our site
    • The CFPB and You
    • What Does a QC Plan Do?
    • Choosing the Right One
    • Free Sample Request Form
    • Request Discount Code
    • About Us >
      • About Us
      • FAQs
      • 100% Guarantee
      • Client List
    • Industry Blog
  • Single Policies
    • Single Policies
    • Free Sample Policies >
      • TIL-RESPA Integrated Disclosure (TRID)
      • HPML Appraisal Policy
      • Social Media
      • Ability to Repay
      • SAFE Act Policy
      • E-Sign Policy
      • Loan Originator Comp
      • Complaint Resolution
    • Disaster Recovery/Business Continuity Plan
    • Fair Lending/Fair Housing
    • Secondary Marketing-Loss Mitigation
    • Anti-Money Laundering (AML/BSA/SAR) Plan
    • Appraiser Independence - Appraisal Management
    • Anti-Predatory Lending (UDAAP)
    • Vendor Management
    • Business Plan
    • MERS QA Plan
  • Modules
    • Module System
    • Mortgage Compliance Manual
    • Quality Control Options >
      • Quality Control Options
      • Lender Quality Control Plan >
        • HUD-FHA Quality Control Plan
      • Broker/Non-Del QC Plan
    • Information Security - FACTA/Red Flags & ID Theft >
      • IT/Cyber Audit
    • Origination/Production Module
    • Processing Module
    • Underwriting/Credit Policy
    • Closing/Funding/Warehouse
    • Mortgage Ops & Employee
    • Wholesale/Third Party Origination
    • Mortgage Servicing Module >
      • Mortgage Servicing
      • Mortgage Sub-Servicing
      • MERS Quality Assurance (QA)
  • Packages
    • Packages
    • Complete Mortgage Banker Package
    • Complete Correspondent Pack
    • Lender Compliance Pack
    • Broker-Non Del Compliance Pack
    • Processing Company Package
    • Anti-money laundering AML/BSA/SAR package >
      • Annual AML/BSA Audit
      • Annual AML Training
      • Free AML/BSA SAR Evaluation
    • Cyber/IT Security Audit Package
    • Advertising Audit Package
  • Services
    • Services
    • State Audit Prep >
      • State Audit Prep Package >
        • Pennsylvania Exam Preparation
        • Washington State Mortgage Lender Broker
        • New York Lender Broker Audit Prep
        • North Carolina Lender Broker
        • Ohio Mortgage Lender Broker
        • Texas Exam Preparation
      • Annual Audit Preparation
      • State Examination System (SES) Support
      • State Examination Packages >
        • Supervisory Plan
    • Training Services >
      • AML Training
      • Fair Lending Training
      • ID Theft Training FACTA
      • Cybersecurity Training GLB Safeguarding
      • Fraud Red Flag and QC Training
      • Privacy Act - GLB Training
      • Advertising Compliance Training
      • New Employee Training
    • Knowledge Base-FAQ
    • My Compliance VP - Manager >
      • My Compliance VP - Manager
      • Login Compliance Manager
      • Login Document Managment
      • Manage Subscription
    • Updates and Downloads >
      • Updates and Downloads
      • Updates and Downloads (members)
    • Warehouse Lender/Agency Approval >
      • Comergence Upload Service
    • Request Review
    • How to: Customization Services >
      • Customization Services
      • How to: Downloading Documents
      • How to: Customize Your Manual
      • Free "Generic" Customization Offer