Introducing: QC Plus
What is QC Plus?
QC Plus provides a comprehensive regulatory compliance file review, performed by a team of past-examiners and skilled experts here at SCA. In the current regulatory environment, we have seen a strong need for this, with more and more QC clients taking advantage of it every day.
QC Plus is a service designed to deliver a laser-focused monthly review of loans that represent the highest level of regulatory risk, running a targeted selection through a complete analysis of all applicable state and federal regulations. The idea is to provide a proactive risk assessment that allows for real-time feedback and resolution to offer peace of mind, or areas requiring attention, ahead of regulatory audits and examinations. We tailor this service to meet the specific needs of each institution in partnership with existing internal compliance management systems, and additionally can update procedures and provide staff training when necessary.
How is this different from SCA’s current QC solution?
While our existing Quality Control program does certainly include a strong compliance element with a focus on portfolio and investor guidelines, the random sampling that is reviewed could be missing significant regulatory risk. With QC Plus, our compliance review takes the targeted sampling a step further, where we review your monthly production for additional data points (i.e., flood insurance, private mortgage insurance, consumer loans, non-made loans) and target the population of loans that present the highest level of risk.
“We think like an examiner, so that you can focus on thinking like a lender.“
Why do I need QC Plus?
While quality control reviews assess the accuracy of your underwriting and assure conformity with investor guidelines, mortgage compliance reviews determine your adherence to consumer protection laws and regulations. A recent blog article put out by our Director, Bill Dolan, went into great detail in explaining the value in recognizing that the two are separate, but equally important. You can read that previous article on our blog linked directly here.
If you are interested in getting more information on QC Plus, or in scheduling a meeting with the team, please feel free to reach out to our Client Relationship Manager, Justin Coscia, at JCoscia@scapartnering.com, or to our Director, Bill Dolan, at WDolan@scapartnering.com.
