What are the timeframes for reporting Quality Control findings to a Mortgagee's senior management and to FHA?

The Mortgagee’s written Quality Control (QC) Plan must contain a process for QC staff to report Findings identified through the QC process to senior management.
  • Initial review Findings must be reported to the Mortgagee’s senior management within 30 Days of completion of the initial Findings report.
  • The Mortgagee’s final report must be issued within 60 Days from the date the initial review Findings were reported to senior management. 
External reporting timeframes to FHA are as follows:
  • The Mortgagee must report any Findings of fraud or material representation to FHA immediately.
  • The Mortgagee must report all other Material Findings that the Mortgagee is unable to mitigate, to FHA no later than 90 Days after the completion of the initial Findings report.
For additional information see Handbook 4000.1 V.A.2.d.iii and iv at:  https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
 

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-03670