What is quality control in mortgage lending?
Quality control is the process of reviewing loans to ensure they meet Freddie Mac’s requirements. Lenders perform pre‑funding and post‑funding reviews to verify documentation, underwriting accuracy, and data integrity. QC helps identify defects early and maintain loan quality.
Related FAQs
- Why do lenders need a QC plan?
- What is a defect rate?
- Why do lenders need to track QC findings?
- What is a corrective action plan?
- Why does Freddie Mac require data integrity checks?
- Why do lenders perform pre‑funding quality control reviews?
- What is post‑funding quality control?
- How does Freddie Mac monitor lender compliance?
- How does Freddie Mac monitor servicer compliance?
- Why are post‑closing reviews important?
- What happens if a lender violates Freddie Mac rules?
- What happens if a servicer violates Freddie Mac rules?
- What is compliance in the mortgage process?