Transcription of CHAPTER 7 QUALITY CONTROL PLAN - United States …
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CHAPTER 7 QUALITY CONTROL PLAN 7-1 General. All FHA approved mortgagees, including loan correspondents, must implement and continuously have in place a QUALITY CONTROL Plan for the origination and/or servicing of insured mortgages as a condition of receiving and maintaining FHA approval. This applies to both the Single Family and the Multifamily Housing programs. A copy of the plan must be submitted when applying for mortgagee approval. QUALITY CONTROL must be a prescribed and routine function of each mortgagees operations whether performed by a mortgagees staff or an outside source.
solely to Quality Control. Staff performing Quality Control reviews must not be involved in the day-to-day processes that they are reviewing. 2. Outside Firms. Mortgagees may engage outside sources to perform the Quality Control function. The FHA approved sponsors of loan correspondents are acceptable as such outside sources. A mortgagee
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