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Investor/Agency (Fannie Mae, FHA, Freddie Mac) Quality Control Plan

Also referred to as a "Lender Quality Control Plan", this "full-scope" QC plan includes every element required by all investors, secondary market entities or regulators to be part of a quality control program.  Directs procedures for origination/production quality control, pre-funding procedures, random selection, document re-verification process, establishing tolerances, red flags, and audit for underwriting and closing.   This product also includes the SAR/AML reporting component. 

Our plan is regularly updated and includes TRID references (LE v GFE - CD v HUD-1) and other updates such as FHA Quality Control Plan (4000.1 v 4155) requirements.

Rather than structuring this product as three stand-alone procedures, our plan contains appropriate overlays so that these procedures can be applied against all loan types. For example, the post-closing review process is the same regardless of loan type, but if it is an FHA Quality Control Element, we include an additional checklist for FHA related items. When choosing random sampling, you have a choice of worksheets to ensure that your overall sampling captures enough representative portions of your production depending on pipeline

FHA Quality Control Plan

FHA Quality Control Plan elements include checking the production process, post-closing, MIP remittance, MIC requirements.

Fannie Mae Quality Control Plan

Fannie Mae Quality Control plan requirements include the self-reporting procedure, annual audit process, higher-risk loan selections and re-verifications. 
Tip: If you have delegated underwriting authority, you generally need an investor agency quality control plan.

Quality Control Plan Elements

  • Conventional, FHA, FNMA, FHLMC, USDA, VA standards - where any requirement exceeds industry requirements, it is included "in-line"
  • Pre-Funding Audit Process
  • Loan Quality Pre-Funding Review Process
  • Random/Audit Selection Process
  • Expanding Audit Selection
  • Detailed Audit Procedures 
  • Loan Level Reporting
  • Policy and Procedure for Discovery
  • State Audit/Examination Preparation Plan
  • Production Quality Control Elements 
  • Training Resources 
  • "Red Flags" Fraud Detection and Prevention Plan
  • Pre- and Post-Funding Audit Plan
  • State Audit/Examination Preparation Plan
  • Financial Audit
  • Compliance Audit
  • Closing Document Audit
  • AML SARS (Suspicious Activity Reporting) Process
  • QC Mortgage Audit Checklists

Servicing Review elements are in the Servicing Module 

Table of Contents and Samples

Quality Control Plan Sample
File Size: 359 kb
File Type: pdf
Download File

Purchase Investor Agency Quality Control Plan

Price: $445
Also available as part of the Lender Compliance Pack or Banker Pack
Referred by a wholesaler, association or consultant? Click here to request a discount code!
Product delivers via e-mail link - allow 5-15 minutes after order for delivery
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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
    • Anti-Money Laundering (AML/BSA/SAR) >
      • Annual AML/BSA Audit
      • Annual AML Training
      • Free AML/BSA SAR Evaluation
    • Fair Lending/Fair Housing
    • Secondary Marketing-Loss Mitigation
    • 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 QC Plan
    • Origination/Production Module
    • Processing Module
    • Underwriting/Credit Policy
    • Closing/Funding/Warehouse
    • Mortgage Ops & Employee
    • Information Security - FACTA/Red Flags & ID Theft
    • Wholesale/Third Party Origination
    • Mortgage Servicing Module >
      • Mortgage Servicing
      • Mortgage Sub-Servicing
      • MERS Quality Assurance (QA)
  • Packages
    • Packages
    • Mortgage Banker Package
    • Correspondent Broker Pack
    • Lender Compliance Pack
    • State Examination Packages
    • Broker-Corr Compliance Pack >
      • Broker-Corr Compliance Pack
      • State Audit/Exam Prep
      • Specific Lenders Requirements
    • Supervisory Plan
  • Services
    • Services
    • Training Services >
      • Annual 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
    • My Compliance VP - Manager >
      • My Compliance VP - Manager
      • Document Management Systems >
        • Document Management Systems
        • Access Document Managment
      • Warehouse Lender/Agency Approval
    • Comergence Upload Service
    • State Audit Preparation >
      • New York Lender Broker
      • North Carolina Lender Broker
      • Ohio Mortgage Lender Broker
    • Annual Audit Preparation
    • Updates and Downloads >
      • Updates and Downloads
      • Updates and Downloads (members)
    • Request Review
    • How to: Customization Services >
      • How to: Downloading Documents
      • How to: Customize Your Manual
      • Free "Generic" Customization Offer