Reporting Mortgage Loan Quality Control StatisticsOnce the necessary loan quality control data is available, the investor runs a quality control report that generates quality control statistics by seller. Quality control reports vary depending on the reporting needs of the investor. The seller funding quality report detailed in this article is intended to fulfill an investor requirement to calculate a seller's quality control "Findings" percentage.
Creating the Report...
Seller Quality Control - Findings PercentageSeller Quality Control - Findings Percentage is the number of loans with quality control findings compared to the total number of loans reviewed for a seller.
Step #1The seller's loans with quality control findings results are retrieved.
The seller's quality control findings results is a count of all loans with quality control issues or defects, entered into the investor's quality control tracking database, that the investor has purchased from the seller for the reporting period. A single loan can have multiple quality control findings associated with it; however, for the purpose of this report, each loan regardless of the number of separate findings is counted only once.
Step #2The seller's total number of loan files reviewed is calculated.
In this step the quality control job counts the total number of loan files reviewed for the reporting period. The resulting number is the seller's total number of loan files reviewed.
Step #3The seller's quality control findings percentage is calculated.
In this step, the report retrieves the seller's number of loans with quality control findings from Step #1 and the total number of loan files reviewed from Step #2. The report compares the two numbers and reports the results as the seller's Quality Control - Findings Percentage
A Seller Quality Control report similar to Sample Mortgage Loan Quality Control Report in the Sample Mortgage Loan Quality Control Reports section of this article can be generated by the investor for distribution to the seller.
Page 1 2 3
Suggest Site Content