3402.7: Documentation review (10/31/18)

For all Mortgages included in the postclosing quality control sample, the Seller must review:

The existence and accuracy of documentation required by applicable law
Compliance with the eligibility and underwriting requirements and guidelines of the Seller, the mortgage insurer and Freddie Mac, as applicable
Compliance with the Seller's warranties regarding Freddie Mac's Exclusionary List
The Settlement/Closing Disclosure Statement and related documentation to determine that all conditions of closing have been satisfied

The Seller must also include the following documents in its quality control review for comparison with the reverifications received:

Form 65, Uniform Residential Loan Application
Credit documentation
Employment and income documentation
Asset documentation
Property valuation documentation
Sales contract
Form 1077, Uniform Underwriting and Transmittal Summary or equivalent form (e.g., a Feedback Certificate)

The Seller must include the following applicable closing documents in its postclosing quality control review to ensure that the information is accurate, complete and consistent with other documents in the Mortgage file:

Notes and riders
Security Instruments and assignments
Mortgage insurance certificate or policy or Mortgage guaranty certificate
Modification or assumption agreement
Title binder or final title insurance policy (both if available) or other evidence of title
Plat or survey
Settlement/Closing Disclosure Statements and related documentation
Leasehold estate documents
Hazard insurance policy or certificate
Flood insurance policy or certificate or flood zone determination documents
Underwriter's approval and any conditions of closing
Closing instructions