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…
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…
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…
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…
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…
The topic of the June Fannie Mae Quality Insider article discussed the significance of strong loan quality control (QC) reporting and nine common gaps the agency finds in its sellers’ QC plans. The stronger and more robust that your reporting tools are, the deeper your loan quality insights are. If you’re evaluating a new QC solution or audit service provider, the…
