Mortgage Quality Control Plan Modules and Packages

The Mortgage Broker Business Model requires a quality control plan for Origination, Processing, Fraud/Audit Quality Control and Human Resources/Branch Management functions.

In the past a quality control plan simply meant the audit function.  Today's regulators, investors and housing authorities want to be sure the company has procedures in place to monitor quality through the entire process, not just after the loan closes.

The Mortgage Banker Business Model adds a requirement for an Underwriting and Closing/Funding quality control plan in addition to  Origination, Processing, Fraud/Audit Quality Control and Human Resources/Branch Management functions.

Most Mortgage Bankers benefit from the addition of a quality control plan for the closing and underwriting functions of their business, as this is where they have the greatest compliance risk as to secondary marketing.

The Wholesale Banker Business Model adds a requirement for an Wholesale/Broker Correspondent Mortgage Quality Control plan, which replaces the Origination Module in the wholesale package.  The Underwriting, Closing/Funding, Processing, Fraud/Audit Quality Control functions also require quality control plan functions.

Most Wholesalers/Correspondents benefit from the addition of a quality control plan for the wholesale function of their business, because it manages the expectations of the broker client, provides direct instruction as to policies and controls the third party origination business model.

Origination/Loan Officer Quality Control Plan, Policies and Procedure, Manual and Training Module 

This module allows the company to define the way that loan officers are to conduct their daily business.  Position description defines the loan officers duties.  The step-by-step process for lock-in, loan registration, pre-qualification, pre-approval, loan application, loan file set up process, pipeline management and closing preparation process are outlined.  

Loan Origination forms, documents and other tools are customizable and are available on disk. 

Processing/Processing Quality Control Plan, Policies and Procedure, Manual and Processor Training Module

This product functions as both an internal training module for the loan processing/loan administrator/coordinator function and a quality control process as required by FHA and State Regulators.  In addition to a Position Description of basic duties, information is presented as to general guidelines.  Specific step-by-step instructions for new loan setup, customer contact, pipeline management and loan status process, determining file readiness, satisfying underwriting conditions/stipulations and closing preparation.

Includes forms, checklists, reports and other tools to assist in executing the function. 

Closing/Funding/Document Preparation Quality Control Plan, Policies and Procedures Module 

The Closing Module is designed to guide best practices regarding Documentation Requirements and the closing/funding/document preparation function.  It establishes procedures for closing Schedule Management, Closing Crisis Management, Pre and Post Closing Audit, Post Closing documentation follow up, Servicing Set Up, Warehousing, and Loan Delivery Functions

In addition, customizable supporting documentation, including checklists, funding worksheets, sample Closing Instructions, Approved Attorney procedures and many other tools.

Underwriting Process Quality Control Plan, Policies and Procedure, Manual Module

This module is designed to help companies manage their underwriting flow, identify standardized procedures for decisioning and reporting results and for compliance monitoring.  

Included are Position Descriptions, Underwriting Guide, Forms, Analysis and Disposition

Fraud and Regulatory Compliance Quality Control Plan, Policies and Procedures Module

Every company needs a written pre- and post-closing quality control plan.  The Quality Control Module provides customizable, detailed step-by-step procedures to comply with generic FHA/VA and FNMA/FHLMC seller servicer requirements, as well as those of the secondary market conduits.  Federal Law Compliance is included and sections are designed to include space for state and local  compliance.

Includes customizable forms, letters and reports.

Branch Management/Administration and Human Resources  Quality Control Plan, Policies and Procedure, Manual

The Administration Module has 3 components - Employee Handbook, Branch Administration and New Employee Package.  It is designed to allow company owners establish procedures for Office Setup, Forms Administration, Vendor Management, Position Descriptions.  Includes policies such as holiday, business conduct, and sexual harassment - Personnel Reviews, and New Employee Kit.

Critical for ensuring employees are given all appropriate notices and for assuring all offices follow standard policies

Wholesale - Broker/Correspondent Module Quality Control Plan, Policies and Procedure, Manual

This module is a requirement for wholesalers, who must define broker approval procedures, general operating guidelines such as lock policies and rate distribution, underwriting guidelines, third party quality control, submission, underwriting and closing procedures. 

Includes forms such as rate distribution templates, broker approval forms, fee sheets, registration forms. 

Mortgage Training Programs - Text Books

Mortgage Sales Training - The Loan Officer's Practical Guide to Marketing

The Loan Officer's Practical Guide to Marketing is the premier business development book for loan officers. Unlike many other "sales books" about selling, this book is a nuts and bolts approach. It gives specific, time-proven systems along with the underlying statistics and data that demonstrate why the systems work .

NEW in 2010 - SAFE Act Version!!  We have combined "The Loan Officer's Practical Guide to Residential Finance" and "The Loan Officer's Practical Guide to Compliance" into one text! 

The Loan Officer's Practical Guide to Residential Finance has been published since 1992, and is updated continually.  To meet the SAFE Act requirements, and the NMLS approved curriculum, we have combined compliance learning with skills-based mortgage knowledge into a 362 page textbook. 

 The format is designed to give the newly initiated loan officer/agent, lender, processor, or other initiate the practical information they need to do the loan officer's job.

The Loan Officer Guide Bundle

Add the Loan Officer's Practical Guide to Residential Finance to your Loan Officer's Practical Guide to Marketing order and save an additional $21!

Processor Training - The Practical Guide to Processing

This product is designed to give the new or entry level processor all information necessary to be able to quickly learn to manage a pipeline. Most processors learn the job in segmented pieces, moving from loan file set-up, data entry, and clearing conditions to managing a pipeline. This book allows the processor to learn, step-by-step, the functions they are expected to execute.

The Practical Guide Library

Purchase the entire practical guide library for your resource center today. Includes the Loan Officer's Practical Guide to Residential Finance, The Practical Guide to Marketing and The Loan Processor's Practical Guide.

On-Line Training Programs

Loan Officer Boot Camp On-Line

Using the same curriculum as the live class, and our advanced technology, users progress through a guided instruction using physical files and exhibits for a "hands-on" feel. The course book is included for off-line guidance. Case studies, tests, quizzes and a final evaluation that is performed live, provides the understanding that only comes through doing. Take the class online and use the same materials as the live class. You can ask questions, clarify material or review other information with an instructor, even ask questions about a case in progress. We are here.

Loan Processor Boot Camp On-Line

Using the same curriculum as the live class, and our advanced technology, users progress through a guided instruction using physical files and exhibits for a "hands-on" feel. The course book is electronically included - printable from within the course - for off-line guidance. Case studies, tests, quizzes and a final evaluation that is underwritten for you provide the understanding that only comes through doing. Take the class online or use the CD based version (coming soon). Support is provided through an on-line chat forum, so you can ask questions, clarify material or review other information with an instructor.