Thursday, March 25, 2021

UWM Renewals - Reviewers Asking Lenders to Locate Items in QC Plans

We have seen an uptick of inquiries from our customers who engage with several national wholesalers. At the root of the inquiry is the reviewer asking the customer to locate items in the QC Plan. To forestall this we wanted to show you what a standard response looks like.

More than this, though, is an understanding of the terms. Our plans are all delivered in Word format. This means you can easily search them for a particular phrase. The problem is that the reviewers aren't using standard QC nomenclature. Key phrases include: 

  • Independence - does the plan show that reviewers are not involved in underwriting or production?
  • Completion - are loans reviewed within 90 days of closing?
  • Selection - does the plan require a 10% sampling
  • Schedule - does the plan require reporting results to management within 90 days
  • Scope - does the plan review all origination documents, underwriting, and closing documents?
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They want to know who your QC person is and provide a resume. If you are using a 3rd party, you need to show that in the plan. The Plan itself shows independence here:






On the matter of timing the plan is clear:



Reporting results to management:




Sample size is addressed here:




Scope is addressed here:


Of course, if you ever have a problem with any of our products, we welcome the opportunity to fix it and make it right. We want you out there doing business, not worrying about whether your policies and procedures are updated!

#QCPlans #LenderAnnualReview #Compliance Audit