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.