Quality control is not a subject you want to overlook. It’s also one of those tedious regulations that can end up taking hours of your time. So how is one to implement a well-organized process to quality control while still juggling the seemingly unlimited daily tasks that actually get you a paycheck? If you’ve asked yourself this question, you’re not…
The latest mortgage QC industry trends report by Aces risk management has pointed to a disturbing trend that should serve as an awakening call for mortgage lenders. It says, that in the 2nd quarter of 2018, the critical defects attributed to mortgage borrower eligibility increased by a whopping 70%. And the reasons for this rise are primarily because of eligibility…
A robust quality control program is an imperative element within the mortgage industry. Well-constructed and regularly enacted quality control procedures ensure that high standards are maintained throughout the home loan sector. These accountability measures keep the industry consistent and foster a higher sense of consumer confidence. Standardized Quality Control Policies and Procedures The primary step in developing an effective quality…