Freddie Mac requires the QC program
to perform data integrity review to determine the completeness
and accuracy of the information obtained in
the mortgage origination process.
The data integrity
review of the information used in the origination
must check data fields entered in Loan Prospector
and ensuring that all data
submitted is valid. The reviewer must perform
a data integrity review on each mortgage
ensure that the loan data is accurate and consistent.
for all mortgages. For all mortgages
included in the QC sample, the quality control procedures
must require data integrity review for:
- employment and income verifications,
- source of funds verifications,
- sales contracts,
- tax returns,
- credit data,
- asset documentation,
- appraisal and inspection reports
- mortgage delivery data, including
the key number,when applicable.
reviews for Loan prospector mortgages.
Additional information to check in Loan Prospector
- borrower's name,
- property address,
- property type,
- terms of the transaction (including
- capacity of the borrower to
repay the mortgage.