Phil McCall

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed.

The Federal Housing Administration should look to private mortgage insurance companies as a model for how to standardize the claim review process.

If the Federal Housing Administration wishes to take seriously the concerns lenders have about the definition of a loan error, demonstrating flexibility in crafting and revising its guidelines is a good place to start.

By implementing a platform designed specifically to support quality control, lenders can continuously prepare for an audit while simultaneously executing on everyday loan quality tasks.

By using data from both post-closing and prefunding quality control reviews, lenders can craft a more proactive prefunding QC strategy that takes into account high-risk areas that are specific to their businesses.

In the struggle between operational compliance and cost control, advanced analytics and technology can help lenders find an efficient middle ground.