This course examines the role of the individual charged with administering quality control programs and how quality control fits in the company. It takes you step-by-step through the quality control requirements and enforcement alternatives of HUD/FHA, VA, Fannie Mae, and Freddie Mac. It defines the goals and purposes of a quality control plan and gives suggestions for designing the elements of a plan. The course leads the reader through establishing a review process during the origination and servicing steps of a mortgage loan and provides methods for dealing with many problems commonly encountered.

Quality Control in Mortgage Lending provides ideal training for quality control personnel, personnel with day-to-day responsibility for compliance matters, production staff, closing and shipping staff, loan administration personnel, and supervisors.

Lesson 1: What is Quality Control? covers the objectives of quality assurance in mortgage banking and reasons for instituting quality assurance measures.

Lesson 2: Drafting and Implementing a Quality Control Plan identifies the goals, purposes, and major elements in a quality assurance plan designed for mortgage lenders.

Lesson 3: Agency and Investor Quality Control Requirements discusses the quality assurance requirements imposed by agencies and investors.

Lesson 4: Quality Control from Loan Origination to Closing focuses on quality assurance considerations from loan origination through the closing process.

Lesson 5: Quality Control in Loan Servicing identifies quality assurance considerations in the loan servicing area and suggests time frames for review cycles in other substantive areas.

Lesson 6: Quality Control Enforcement Methods addresses the quality enforcement methods employed by agencies, investors, as well as applicable state law.

Lesson 7: Lesson 7: Combating Fraud and Unethical Practices looks at fraudulent and unethical practices in the mortgage lending industry and methods to combat them, including new technologies that are available.

Lesson 8: Evaluating the Success of a Quality Control Plan examines factors affecting the success of quality assurance programs and measures by which to evaluate quality assurance plans.