What we Provide

• Complete Mortgage Quality Control Plan Solution

• FHA Quality Control Plan - HUD - Post-Closing AND Production Quality Control

• Mortgage Compliance System

• Customized and Delivered in under 24 Hours

• Electronic templates that can be completely customized

• Expertise - 1,859 (5/09) plans deployed since 1996

• Location in Washington, DC - fast access to HUD, FNMA, FHLMC, VA, USDA

Our Products Are: 

• Delivered in Word, Excel and PowerPoint Format

• Constantly Updated

• Easily Customizable - Ready to use "off the shelf"

• 100% Guaranteed to meet requirements

• Are fully compliant with FHA Quality Control Plan Requirements, Freddie/Fannie, State and Federal guidelines

• Meet requirements of warehouse banks and lenders

• Protect your company from expensive litigation - limit Fraud Liability - works with E&O Insurance/Fidelity Bond

• Adhere to required Policies and Procedures - "Best Practices"

• Internal Training Program

Mortgage Quality Control News and Updates

4-15-09 - FHA/HUD SWAT Teams - It is not an urban myth.  FHA examiners are appearing, unannounced, at the offices of HUD approved mortgage brokers and lenders demanding access to files.  We have seen this in Houston, Dallas, Denver, Los Angeles, Atlanta, Baltimore and Tampa.  The first thing requested - "please show us your quality control plan." 

2-24-2009 - It is becoming clear that the Mortgage Broker business of the past is over.  1)  HVCC (Home Valuation Code of Conduct) eliminates the broker's role in directing the selection or ordering of the appraisal - brokers can no longer compete on the basis that there is better chance of obtaining the value. 2.)  PMI no longer accepting broker ordered PMI and instituting higher credit standards and premiums for Third Party Originated applications 3.)  RESPA Reform eliminates fee packing with the new Good Faith Estimate process requiring that the broker state the specific dollar amount of compensation received from all sources and not allowing that number to change after application.  The solution?  Become a lender.   

1-21-2009 - Information Security - FTC Files Complaint against Nevada Mortgage Broker

12-31-2008 - FHA Relevant Again - insures over 25% of all mortgages made in the US in 2008.  In 2009, with streamline refinance programs that don't require an appraisal, the ability to cash out at 95% LTV, no saved down payment, liberal income, asset and credit qualifying standards, FHA insured residential mortgages have become the leading affordable lending program.

September, 2006 - New Mortgagee Approval Guidelines - FHA revised its quality control guidelines to include all aspects of mortgagee operations.  Previously, the fraud detection, random audit selection and review process were the only components reviewed.  FHA is suspending applications and renewals to require that the mortgagee incorporate these factors: For supervised lenders and sponsored brokers evidence of controls in the origination, processing, underwriting, funding and human resources management components must be included in the quality control submission.  Required disclosures, checking disbarred mortgagees, affirming date of last transfer, and mortgagee licenses are prominently posted,  Be aware that branches will be inspected in a physical audit.  Particularly attention is paid to the hiring of 1099 contractors as employees.