Selling Guide

Published December 4, 2019

Part D: Ensuring Quality Control (QC)

This part discusses the quality control process for lenders and Fannie Mae.

Selling Guide Update Publication Schedule

Selling Guide updates typically are published on the first Wednesday of the month.

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D1: Lender QC Process

This subpart describes the lender’s responsibilities for ensuring that the mortgage loans it sells to Fannie Mae meet Fannie Mae’s eligibility and underwriting requirements. It contains information on Fannie Mae’s requirements for establishing a quality control (QC) program, including documenting a QC plan, staffing and outsourcing of the QC process, selecting and reviewing mortgage loan files, reporting results, and retaining records.

D2: Fannie Mae QC Process

Fannie Mae’s Loan Quality Center reviews a sample of the mortgage loans purchased or securitized by Fannie Mae to ensure that they meet its underwriting and eligibility requirements. This subpart describes Fannie Mae’s policies and practices with respect to the selection, review, and reporting of results; and the lender’s responsibilities for participating in this process. Fannie Mae also reviews servicing files with the primary focus of confirming that the mortgage loan has been serviced in accordance with the Servicing Guide and Lender Contract. See the Servicing Guide for a description of the servicing QC process. In addition, within the Loan Quality Center, the Data Validation Center team follows up on loan-level data discrepancies to perform required data changes that, in some instances, may indicate eligibility concerns leading to a full underwriting review.