" " Outsourced QC Audit – Myth vs. Magic

Outsourced QC Audit – Myth vs. Magic

November 2, 2017

 

It is not uncommon to hear your peers claim, “we don’t outsource any services”; however, nearly all large institutions outsource services and there are few smaller lenders that wouldn’t benefit from outsourcing.  Whether your institution is focusing on product expansion, purchase mortgages, regulatory change or all the above, outsourcing quality control provides strategic organizational benefits.  

 

Outsourcing myths range from threats that your organization will experience loss of control, added regulator scrutiny, or even increased cost over time.  These scenarios can obviously occur but are far from the norm.  In today’s evolving digital market, coupled with unceasing regulatory change, the magic needed to take your organization to the next level could be as simple as outsourcing your QC audit functions.  Your team can immediately realize improvements, such as: 

  • Gaining access to expanded expertise;

  • Freeing up resources to focus on what’s important;

  • Improving cost and operational efficiencies;

  • Apportioning and alleviating risk exposure.

 

Staying abreast of regulation, guidelines and state law is not a simple proposition.  Your compliance team must devote time to not only identify forthcoming change, but understand how it impacts your organization, determine how to effectively implement change and document every step along the way.  Alleviate some of this internal stress on your organization with an experienced QC partner. Your team will gain access to experienced personnel that are dedicated to QC audit and versed in current requirements.  Seize the opportunity to create efficiency, reduce workload, and simultaneously tap into flexible skilled staffing through outsourcing.

 

Improve your time to focus on corporate strategy, from product expansion to technical innovation, by realigning your experienced team members.

 

Quality control best practices suggest outsourcing at least a segment of your QC business to one or more providers.  This approach helps an organization manage market volatility, ensures loan files are expertly checked prior to investor delivery, and supports timely completion of required audit functions.  Safeguard your organization through outsourcing with the assistance of a valued partner that is experienced in meeting investor guidelines and regulation, as well as meeting unique customer needs.

 

As the mortgage industry continues to evolve, necessitating nimble, responsive organizational structures, connecting with an experienced, professional QC partner should be a key priority.Dispel myth with a third party that brings confidence to your organization and helps level the playing field by providing the opportunity to tap into industry expertise and improve economies of scale..More importantly, we are a boutique quality control service provider that is focused on ensuring an exceptional customer experience.QMS understands the importance of being approachable, transparent and treating your business as their own.Combining 20 years of industry experience with innovative technology, QMS is ready to bring the magic to your organization.

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