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Multifamily Quality Control Plan and Audits for HUD-MAP Loans

Quality Mortgage Services writes Multifamily Accelerated Processing (MAP) quality control plans and performs multifamily quality control reviews and audits in order to verify that a lender operates at a high quality performance level in the origination, underwriting, construction loan administration and closing of MAP processed multifamily insured projects. QMS will validate in its audits that lenders operate in full compliance with the National Housing Act (NHA), HUD-FHA and MAP requirements and its own policies and procedures. QMS certifies that the lender's employees and Sponsored Third Party contractors adhere to the MAP Guide policies and procedures, the MAP Forms Book and clarifications and revisions, applicable regulations, Mortgagee Letters, HUD Notices and HUD Handbooks, and internal controls. The multifamily QC Plan and multifamily QC reviews ensures that the lender's policies and procedures are distributed to and consistently followed by its personnel and is supported internally by appropriate training and staff development activities. The multifamily QC plan address third party contractors which are involved in a MAP project are familiar with, understand and adhere to the Lender's policies and procedures regarding quality control.

Quality Mortgage Services, LLC will review each multifamily loan to determine whether the loan appears to nationally recognized origination, processing, and closing documentation requirements of HUD-MAP. The multifamily quality assurance reviewer performs reviews, or other designated assignments independent of all mortgage departments. This includes reviewing loan production operations of HUD-MAP mortgage loans. Quality assurance reviews shall be conducted within 90 days of loan closing.

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