Mortgage Servicing QC Requirements
Quality Control (QC) audits are now a requirement of doing business with Fannie Mae, Freddie Mac, FHA, Ginnie Mae and the Veterans Administration (VA). Failure to comply can lead to penalties imposed by the Consumer Financial Protection Bureau (CFPB).
A quality management system (QMS) combined with an effective quality control plan both allow organizations to offer higher quality customer service and to achieve greater efficiencies in the servicing process.
Many mortgage servicers are unaware of what guidelines they need to follow and don’t have the resources to do so. Let MetaSource help!
This whitepaper addresses the following:
- What are the mortgage servicing QC requirements servicers need to know?
- Proven methods for minimizing the risk of CFPB fines
- Best practices for implementing a new servicing QC program