News & Alerts

Quality Control As A Profit Center

Quality Control as a Profit Center
By Charles W. Sewright, CMA
President & CEO
Quest Advisors, Inc.

Many in mortgage lending view Quality Control as a cost center that is simply a cost of doing business. But, when properly implemented and managed, Quality Control can be a profit center. A deep dive into Quality Control can lead to profit improvement opportunities throughout the mortgage manufacturing process if time and effort are spent looking for them.

The goal of every ...

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Categories: News

Quest Advisors Successfully Completes SOC® 2 Type II Certification With No Exceptions

Read the official release on Business Wire

DURHAM, N.C.–(BUSINESS WIRE)–Quest Advisors, a nationally recognized mortgage quality control and auditing firm, today announced the successful completion of its SOC 2® Type II examination, validating the effectiveness of its internal controls for security, availability, and operational integrity.

The examination was conducted by Prescient Security, an independent CPA firm specializing in SOC reporting and cybersecurity compliance assessments, trusted by more than 5,000 organizations to help ...

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Categories: News, Press Release

Fannie Mae Appraiser Update (June 2023): Periodic update for residential appraisers serving Fannie Mae customers

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Categories: Press Release

Tags: Fannie Mae

Upcoming Freddie Mac Servicing Update Effective October 1, 2023 Regarding Payment Deferral and Disaster Payment Deferral

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Categories: News

Tags: Freddie Mac

Freddie Mac Selling Guide Bulletin –

Changes effective June 1, 2023 with regards to ASSET AND INCOME MODELER (AIM) FOR DIRECT DEPOSIT DELIVERY REQUIREMENTS:

SSET AND INCOME MODELER (AIM) FOR DIRECT DEPOSIT DELIVERY REQUIREMENTS

Effective for Mortgages delivered on and after June 1, 2023; however, Sellers may implement immediately

To improve efficiency for Sellers, we are no longer requiring the delivery of the valid value “H85” for ULDD Data Point Investor Feature Identifier (IFI) (Sort ID 368) for Mortgages using Automated Income Assessment with Loan Product ...

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Categories: Press Release

Tags: Freddie Mac

Freddie Mac 2Q-2023 Selling Guide Highlights

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Categories: News

Tags: Freddie Mac

Changes to Fannie Mae’s Prefunding Requirements

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The lender must maintain and implement a written prefunding QC plan that outlines requirements for reviewing a sample of its loans prior to closing or, in the case of loans acquired from a delegated third party, prior to acquisition. The lender must have documented procedures that include, at a minimum, the following elements: