Mortgage Lending · Closing & Post-Closing
Post-closing quality control procedures
A written procedure describing how a lender reviews closed mortgage loans after funding to confirm they were underwritten and documented correctly.
What it usually contains
- Sampling method and monthly review percentages, plus criteria for targeted or discretionary selections
- Steps for reverifying income, employment, assets, occupancy, and credit documents
- Appraisal desk review and field review requirements
- Defect classification, severity ratings, and rebuttal and cure timelines
- Reporting to senior management and timeframes for corrective action
What the assistant uses it for
Answer questions about how many closed loans must be reviewed and on what schedule, what documents get reverified, and how findings are graded, disputed, and reported. Also useful for confirming the lender's process meets investor and agency post-closing review expectations.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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