Unlike other industries, mortgage banking quality control is not just a simple QC plan. All agencies require a formal mortgage QC plan to be submitted that conforms to agency guidelines to be allowed to process any mortgage loans.
Mortgage banking quality control plans are an extremely important part of mortgage QC. In fact, the agency approval of your business depends upon your written mortgage QC plan. Many choose to turn to the mortgage compliance advisor professionals at QMS for assistance preparing this important document.
A mortgage quality control plan
The staff of QMS is made up of mortgage banking advisors that include former underwriters, HUD field monitors and othermortgage compliance and mortgage risk professionals. They have a thorough knowledge of the industry and understand how to construct a mortgage quality control plan that will satisfy regulations from all of the agencies.
There are many other quality control mortgage services offered by QMS besides the mortgage QC plans. If you need mortgage audits for QC of various types or even help with repurchase defense, the QMS staff is ready to assist you.
QMS maintains a proprietary software called MARS that will let you monitor the mortgage audit process and generate QC reports. With the combined support of MARS and the variety of analytical QC reports and the compliance and risk management staff, mortgage bankers can increase their mortgage quality control and risk mitigation programs.