QC for mortgage products is a fundamental aspect of mortgage banking. The ability to meet repayment obligations is a central aspect of mortgage quality, and a mortgage product that does not meet this criteria could be considered a defective loan. QC services should provide relevant information for management, including recommendations for...

When it comes to HMDA data scrubbing, lenders must be careful not to overlook details. HMDA compliance is crucial to ensuring accuracy in loan applications, and improper data scrubbing can cause delays in the review process or even require the re-doing of an HMDA LAR. Scrubbing of data should be done using spreadsheets, and a standardized process...

There are two types of mortgage loans, fixed-rate and adjustable-rate. Fixed-rate mortgages have fixed interest rates for the entire loan term, typically 15 to 30 years. But recently, fixed-rate mortgages have been available for any length of time from ten to twenty-two years. A fixed-rate mortgage is a good option for homeowners who are...