Broker Quality Control Policy Manual From AllRegs

Whether you are originating conventional or government loans, most lenders are asking their Third Party Originators for Quality Control Plans. Implement yours today with the AllRegs Broker Quality Control Plan Policy Manual.

Overview

This policy has been revised to focus on facets of quality control specific to mortgage brokers.

This Broker Quality Control Plan covers the following topics:

  • Goals, Objectives, and Applicability
  • Accountability and Monitoring
  • Staff and Training
  • Broker Quality Control Plan, including
    • Mission statement
    • Plan development
    • TPO Activities
    • Regulatory Requirements
    • Types of QC Reviews
  • Relationships and Lenders
  • Loan Process Review
  • Results and Corrective Actions
  • Sample QC Checklists


Benefits

The policy features the following benefits:

  • Complete AllRegs' Broker Quality Control plan, saving you development time and resources
  • The plan is delivered via email within one business day after purchase
  • Meet your regulatory or internal compliance requirements
  • Affordable one-time purchase fees

Publishing Services

Publish your manual, including your company procedures, in AllRegs Online as an upgrade to your complete policy manual solution. Ask us how!


Policy Manual
Broker Quality Control
Section Title Priority Action
1.1 Goals and Objectives Mandatory Review Include the point of view or culture of your organization in this section, if applicable.
1.2 Required Review Mandatory Review Be sure this accurately reflects your company’s annual policy review process.
2 Accountability and Monitoring Mandatory Review Modify this section to describe your compliance testing. QC testing must be independent of the quality control function to align with regulatory and agency guidance.
2.2 Board/Senior Management Oversight Mandatory Review Ensure this section accurately describes the responsibility for executive oversight in your organization.
3 Staff and Training Mandatory Review Include the means by which your organization provides and tracks required training.
4.1 Quality Control Mission Statement Mandatory Review Revise this section to include the point of view or culture of your organization regarding Quality Standards.
4.3 TPO Activities Optional Enhancement This section includes a listing of various activities of a TPO that may be monitored for quality control. This list should be customized to fit your business needs.
7.2 Report of Findings Recommended Best Practice Ensure this section adequately describes the reporting in place in your organization, including the frequency of periodic reporting.
8 Sample Quality Control Checklist for Originated Loan Recommended Best Practice Review and expand the QC checklists if applicable.