Just received a fax from FRB about this Q061 edit. The fax states that their end-of-cycle analysis failed this Macro Quality Edit Q061? Has anyone else received this fax? What is it about? I've checked our rate spreads before submitting the data to FRB and its correct.

I didn't look up this code but are you possibley reporting rate spreads where you should be reporting NA?

According to this, your error is "The number of loans where property type = 1, lien status = 1, action taken type = 1 and rate spread > 5% and not = NA is > 1% of the total number of originated loans"

I don't know if that helps or not, but usually on originated first lien loans on 1-4 family dwellings, there aren't that many rate spreads over 5%. It is just a quality edit, if you checked your rate spreads, and you are sure they are correct, just reply that all rate spreads are correct.