One of the questions posed in the recently published Quality Insider by Fannie Mae (https://singlefamily.fanniemae.com/media/28786/display) was “Is your QC vendor completing the file reviews in a timely manner? Are you holding the QC vendor accountable to the timeline?” This is a question you should be asking and if the answer is NO, maybe you should be looking at other options.
Fannie Mae requires that mortgage loan post-closing quality control reviews be completed within 120 days from the month of the loan closing and if your post-closing quality control cycle is in arrears more than one 30-day cycle then the lender must self-report in Loan Quality Connect.
Regulatory Solutions provides timely pre-funding, post-closing and servicing quality control reviews. Contact Regulatory Solutions today to discuss how we can get you back on track with your mortgage loan quality control needs.