Section II - Implementing a Quality Control Program Made Simple™

Chapter 1 – Purpose of a Quality Control Program.
Chapter 2 – Establishing and Managing an In-House Quality Control Program.
  2.1       General Goals.
  2.3       Responsibilities of a Quality Control Representative.
  2.4       Third Party QC Providers.
  2.5       Fair Lending & Compliance Reviews Overview.
  2.6       Documentation of Your Quality Control Program.
  2.7       Quality Control Sampling.
Chapter 3 – Implementing an In-House Quality Control Program.
  3.1       Quality Control Loan Reviews.
Chapter 4 – Quality Control Program Reporting Guide.
  4.2       General Strategy.
  4.3       Developing Quality Control Reports.
  4.4       Types of Reports and Records.
Chapter 5 – Fraud Detection and Prevention.
  5.1       Preventing, Detecting and Resolving Fraud.
  5.2       Red Flags.
Exhibit QC1 – Sample Origination and Closing Documents Checklists.
  QC1.1     Origination Documents to Review.
  QC1.2     Closing Documents to Review.
Exhibit QC2 – Sample Document Review and Red Flag Checklists.
  QC2.1     Mortgage Loan Application.
      Mortgage Loan Application Checklist.
      Mortgage Loan Application Red Flags.
  QC2.2     Credit Report
      Credit Report Checklist
      Credit Report Red Flags.
  QC2.3     Employment and Income.
      Salaried Employment and Income Checklist
      Salaried Employment and Income Red Flags.
      Self-Employment Checklist
      Self-Employment Red Flags if Dealing With a Self-Employed Borrower
      Self-Employment Red Flags if Dealing With a Salaried Borrower
  QC2.4     Source of Funds.
      Source of Funds Checklist
      Source of Funds Red Flags.
  QC2.5     Appraisal and Inspection Reports.
      Appraisal and Inspection Report Checklist
      Appraisal Inspection Report Red Flags.
  QC2.6     Sales Contract
      Sales Contract Checklist
      Sales Contract Red Flags.
  QC2.7     Legal and Closing Documents.
  QC2.8     Exclusionary Lists.