Underwriting Quality Control (Underwriting Step 2 of 2)
After pre-underwriting, the second step of our two-tiered underwriting process is quality control (QC) of the pre-underwriting documents. Our mortgage processing services team handles all the detail-oriented review tasks, as our underwriting QC specialists use a comprehensive checklist to examine the pre-underwriter’s calculations, assumptions, and the rest of the file. They also look to ensure the loan complies with industry standards and Fannie Mae and Freddie Mac guidelines.
Confirming the Loan Decision
Our QC team reviews the loan decision using the same tools as the pre-underwriter, providing the reassurance associated with repetition. They ensure the 4 Cs (credit, capacity, collateral, and capital) are accurately represented to deliver a fair and qualified mortgage decision.
Preparing Your File Package
If the QC team determines that mortgage underwriting is complete, they package the loan file and send it to the proper parties for processing. If the conditions or any part of the file need to be revisited, the mortgage file may be sent back to pre-underwriters with feedback for rework. Additional questions may need to be answered internally, by you, or by the client before moving the mortgage forward.