The Quality Control Organization section of the Caldwell Quality Control Plan for Mortgage Lending give you the framework for organizing and operating a quality control and compliance system. It explains the systems you must have to assure that employees understand the QC and regulatory requirements and are kept up-to-date, it details requirement for preparing disclosures required under RESPA, the Truth in Lending Act and other laws and provides guidelines for areas such as Fair Lending and Fair Credit Reporting.  

Quality Control Rule Sources. The QC Plan helps by pulling together the essential rules that the employees must follow when they performing any activity involving home mortgage loans, whether processing, underwriting or servicing. It sets out requirements for relationships between sponsors, correspondents, lenders, agents and others who perform some aspect of mortgage origination or servicing.

   

Quality Control Employee Guidelines. The company QC policy statement covers everything you need. The guidelines are ready-to-implement and cover steps to administering the QC system and keep staff up-to-date on quality control.

   

Operating Guidelines. The guidelines distill for you the HUD, VA, Fannie Mae and Freddie Mac operating rules that you must be familiar with. They address quality control, prudent lending practices. establishing an appropriate environment for performing quality lending, certain annual reporting requirements, net worth and warehouse line of credit requirements.

   

Preparing Disclosures. This essential material guides preparing good faith estimates and servicing transfer disclosures under RESPA. It details the content of Truth in Lending and ARM disclosures and explains HOEPA disclosure issues. It addresses mortgage insurance cancellation disclosures, the impact of federal mortgage disclosure considerations on web sites, financial privacy disclosure requirements and electronic signatures and disclosures.

   

Consumer Relations Policy. This model lender’s consumer relations policy gives you guidelineses for how to resolve complaints that arise in residential mortgage lending operations and how complaints can help the compliance review process.

   

Fair Lending Policy. These guidelines show your employees and regulators that you have a policy of not discriminating against any applicant or discouraging anyone on a prohibited basis from making a mortgage application.

   

Community Lending. This chapter sets out requirements for most lenders under the Home Mortgage Disclosure Act and for regulated lending institutions under the Community Reinvestment Act.

   

Fair Credit Reporting Policy. The Fair Credit Reporting Act imposes responsibilities on those who use credit reports and those who furnish credit information to credit reporting agencies. This section sets out policies to help you to meet these obligations and avoid potential liability.