Why do I need a quality control plan?
Many investors and agencies, such as FHA, Fannie Mae, and Freddie Mac, require a written quality control plan.* For example, before your organization is approved with an investor, they may want to review your quality plan.
*(See HUD Handbook 4060.1 chapter 7, Fannie Mae Single Family Selling Guide D1-1-02, Freddie Mac Single-Family Seller/Servicer Guide 48.1)
Our quality control plan helps you meet agency guidelines
We can create a quality control plan for you; or we can review your current QC plan and provide recommendations to meet agency, lender, or investor guidelines.
Our Quality Control Plan was created based off of the requirements found in Chapter 7 of the HUD Handbook 4060.1. After comparing our QC Plan to the requirements of Fannie Mae and Freddie Mac, we have found it to be a comprehensive plan, covering both FHA and Conventional Quality Control regulations. Because of the large number of our clients submitting our QC Plan for their original FHA approval, our plan has been reviewed by HUD numerous times. This has given us the opportunity to make changes and refine our QC Plan into what we now feel is an excellent product in the eyes of FHA.
Components of our Quality Control Plan
- Operation
- Office and Branch Review
- Record Keeping
- Timeliness of System
- Selection Procedure for FHA QC Audit Review
- Areas of Review – Origination and Closing Documents
- Reporting of Findings
*For more information or to order a quality control plan, click an icon under “Contact Us” to the right, or call 877-250-5243.
