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Quality Control Reference Service (PDF)

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The Quality Control Reference Service pulls together all important documents having to do with single-family mortgage lending quality control and federal regulatory compliance. This document service lets you relax knowing that you have assembled all documents that HUD/FHA, VA, Freddie Mac, Fannie Mae, the Federal Reserve Board, the FDIC, the FTC, the NCUA, the OTS, the OCC and other federal agencies have issued that have an impact on your regulatory compliance responsibilities. It also covers laws enacted by Congress and significant court opinions as well as studies and reports bearing on mortgage compliance. The twice-a-month Quality Control Reference Service is available in a downloadable PDF version.

With the federal supervisory agencies and the Congress focusing intently on the lending practices that are associated with the subprime disaster, this is a time of unprecedented change in the rules that lenders and other mortgage market participants must follow. Compliance officers must be sure that their library of important federal issuances is up-to-date. You must be aware of the deadlines for complying with all new requirements and have built in enough lead time so that your company can do the planning and training needed to implement any new or changed requirements. The Quality Control Reference Service gives you a reliable resource to know that you have the information you need in a timely way. It covers all areas of mortgage lending and servicing regulatory compliance including:
  • consumer financial privacy,
  • predatory lending,
  • mortgage servicing,
  • Real Estate Settlement Procedures Act,
  • Truth in Lending Act,
  • Home Ownership and Equity Protection Act (HOEPA),
  • Fair Credit Reporting Act and FACT Act,
  • Fair Debt Collection Practices Act,
  • PMI cancellation under the Homeowners Protection Act,
  • Equal Credit Opportunity Act,
  • Fair Housing Act,
  • Community Reinvestment Act,
  • Home Mortgage Disclosure Act,
  • Flood Disaster Protection Act,
  • FHA mortgagee letter and VA circulars and guidelines,
  • Fannie Mae anouncements and lender letters and
  • Freddie Mac bulletins and industry letters.
It also covers all single-family mortgage loan origination and servicing quality control issues under the Fannie and Freddie Mac guidelines, including Desktop Underwriter and Loan Prospector, and under the FHA and VA mortgage guidelines.

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