I have a Q015 edit. We have reported 6 type 3 loans out of 478, for a total of 5,523, our total LAR was 44,023 (all in the millions). The 6 were commerical. I'm not sure how to word my explanation, any suggestions?

Please quote the Q015 edit here for those of us that can't remember exactly what it says.

If the property type = 3, then the total number of these loan applications should be <10% of all loan applications or <10% of the total dollar amount of all loan applications reported.


I believe my expalantion will be: Verifed Commerical Property, no correction necessary

They just want to make sure you don't have a loan amount or property type error. If the amounts etc. are correct, just send them a response saying so. Think of quality edits (Q's) as question marks - they just say "are you sure about this?" As long as you can verify that your data is correct and explain the % or whatever caused the Q, you should be OK.

Thanks soccer, your explanation should be satisfactory.

Thanks everyone!