In a significant move to enhance quality control (QC) processes, Fannie Mae has expanded access to its AI-powered tool, Ask Poli, to include QC vendors. This development opens new avenues for third-party QC providers like LoanLogics to streamline operations, improve accuracy, and proactively manage Unlocking New Potential with Ask Poli Ask Poli is an intelligent business tool designed to assist…
Author: Jenevieve Impavido
As Vice President of Audit Services, Jenevieve leads a team of Audit Services Managers through strategic projects driven by innovation, automation targeting operational efficiency and audit best practices. She has expertise translating GSE and Lender guidelines into technology automation to streamline the audit process and optimize auditor productivity. This delivers immense value to clients and is enabled by the company's LoanHD® audit technology. Prior to joining LoanLogics, Jenevieve held a variety of functional roles across the financial services and mortgage industry with a focus on client relationships, quality, operations, and training.
It’s time to amp up loan quality checks, and not just because “they” say so
As we’ve written about before, on March 1st Fannie Mae announced two changes to their quality control requirements. Both will be effective September 1st, 2023. These changes move quality checks up in lenders’ origination processes. Why? Because it makes sense to look at high risk loan characteristics and make sure loans in the pipeline are quality checked before they are…
A New Wrinkle for Mortgage Quality Control
Just announced March 1st, the timeframe for completion and reporting of post close QC reviews to Fannie Mae is being reduced to 90 days from 120 days. As well, Fannie Mae is now requiring lenders complete a minimum number of prefunding reviews monthly. The total number of loans to be reviewed must equal the lesser of 10% of the prior…
Appraisal Modernization is Now!
Valuation modernization is clearly a priority for Fannie Mae who is, “on a journey of continuous improvement to make the home valuation process more efficient and accurate.” Here at Loanlogics we agree! Loanlogics is committed to ensuring efficiency and accuracy through the enhancements we make to our LoanHD® audit platform. We continually update our Appraisal Audit test set to keep…
GSE QC Calibration Readiness with LoanHD®
Cars, trumpets, measurement devices, and now the loan quality control process are a few of the common calibrations we need to perform to ensure high standards in execution. Starting in 4Q 2022 and rolling out more robustly next year, Fannie Mae® announced that the agency will begin calibrations with its customer base to understand the precision and accuracy of a…
Part 2: Loan Quality Insights in Reporting
We’re back with part two of our series discussing how robust reporting from QC platforms, like LoanHD®, can address the gaps Fannie Mae sees in their lenders’ loan quality review plans and processes. If you missed part one about these loan quality insights in reporting, you can look back at the first four points addressed here. This new series begins…