V.A.4.a. Standard (09/14/15)
- Kacey Olson
© HUD Single Family Housing Policy Handbook 4000.1
The Mortgagee’s QC program must include a review of the completeness and accuracy of the information obtained for each Mortgage for all aspects of the Loan Administration process for which a QC sample is selected. The Mortgagee must report all Findings internally to senior management, and to FHA where appropriate.
Included in this section are:
i. Origination and Underwriting Information
ii. Endorsement and Insurance Information
iii. Servicing Information
i. Origination and Underwriting Information
For origination and underwriting, the review must validate all data elements submitted through the Automated Underwriting System (AUS), Technology Open To Approved Lenders (TOTAL) Mortgage Scorecard, and FHA Connection (FHAC), and validate that documentation exists in the loan file to support all data used to underwrite the Mortgage.
ii. Endorsement and Insurance Information
For endorsement, the review must validate all data elements submitted through FHAC, and validate that documentation exists in the loan file to support all data used to endorse and insure the Mortgage.
iii. Servicing Information
For servicing, the review must validate mortgage information submitted through FHAC, SFDMS, or Home Equity Reverse Mortgage Information Technology (HERMIT), as applicable.