by Rachael Harris | Nov 7, 2016 | General, Kaizen
THE QC CHECKLIST – HOW ESSENTIAL OF A TOOL IS IT? By: Denise Kowalski The use of a Quality Control checklist is an essential tool that contributes to the accuracy, consistency and efficiency in QC reports. As noted by Fannie and Freddie Mac, a well designed QC...
by Denise Kowalski | Oct 17, 2016 | General, Kaizen
What happens when documentation is missing from a Quality Control loan file? Nearly 30% of all lenders will receive a Notice of Incompleteness, Notice of Reject, Repurchase Request or a high defect rate. Missing documentation can lead to misguided interpretations by...
by Rachael Harris | Oct 4, 2016 | General, IncomeGenius
As reporters and politicos have discovered a newfound interest in net operating losses, many mortgage industry veterans are still hard-pressed to explain a net operating loss and the impact on qualifying. What is a Net Operating Loss and how does it impact mortgage...
by Denise Kowalski | Sep 16, 2016 | General, Kaizen
When was the last time someone from your company reviewed your Quality Control Plan? Was it last year? Or was it the year before? Does it still reference the GFE or HUD-1? Is there a method for the not so random loan selection process? We often hear from lenders...
by Alice Alvey | Sep 15, 2016 | General, Kaizen
Are you leveraging Business Intelligence and a BIO? The analytics of mortgage data has become so critical to profitability that the role of Business Intelligence Officer (BIO) is becoming key for many mortgage and banking operations. Their impact on the top line can...
by Rachael Harris | Sep 12, 2016 | General, IncomeGenius
Who is considered ‘self-employed’? Realtor? Truck driver? Construction worker? Labor union? The Key Question- does the borrower have 25% or more ownership in the company? If the answer is yes, the borrower is considered self-employed. But, is it really that simple?...
