We are relatively new to the consumer mortgage arena - if we sell our loans to an investor, we are still required to do quality control reviews right?? Must they be done quarterly??

Thanks

I would check with the investor and see what their requirements are.

We sell to FHLMC and we qc monthly. We have a 3rd party vendor perform our qcs. If there are exceptions they are addressed immediately rather than wait 3 months. However, we report results to the Audit Committee quarterly.

Fannie Mae requires monthly quality control reviews.

Where do you see this requirement for FNMA? Thanks.