Which Quality Control Plan do I Need?
Understanding which plan you need depends on your business model. If you choose the Lender plan, you will conduct an audit of a sampling (usually 10%) of the underwriting and closing of the loan. If you choose the Correspondent Broker plan, you will focus on the production quality control audit, and prepare your files for state examinations. This presentation should help you decide - do you need the correspondent/broker plan or the lender plan.