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Dashboard Overview

Loan Quality Connect's Dashboard provides self-service reporting tools to manage loan quality. Logging in as a Manager, Document Technician, Lender Remediation Specialist, or a Lender DVC Specialist, you have the ability to access the Dashboard feature.

Note: See the Logging In and Out job aids for instructions on logging into Loan Quality Connect to access the Dashboard.

Team leads, managers, QC professionals, and executives want data on their review process and pipeline for many reasons. For day-to-day activities, data assists with analyzing team performance and highlights process challenges. For longer-term business decisions, quality and remediation metrics as well as the ability to analyze trends are necessary. The Dashboard is designed to support these needs using the Responsible Party Daily Pipeline, Responsible Party Review Results, and Seller File Review Results reports. You can also create custom reports, see loan level details, and save to Excel.

The Dashboard has been updated and report options have been renamed to offer more information for your reporting needs. Composed of info graphic widgets, the newly designed Responsible Party Daily Pipeline, Responsible Party Review Results, and Seller File Review Results reports provide actionable data that is easy to understand. For example, the following Outstanding Requests widgets communicate the degree to which loan file and document requests are meeting their completion timelines.

Outstanding Requests Widgets: Loan Files and Documents

Outstand Requests Widgeets

Dashboard widgets were created in responses to lender-specific data needs. For example, lenders attending focus groups asked for the capability to measure metrics performance. In response, the Top 10 Document Types, Loan Review Defects, and Top 5 Defects widgets, shown below, provide the ability to track relevant patterns across an entire review population.

Top 10 Document Type Widget
Top Ten Documents Requested Widgete

Loan Level Detail for Income Not Documented Defect
Drill Down into Loan Details

Note:  Many of the widgets allow you to hover over a data point to produce loan level details that can be exported to Excel.

Loan Review Defects (by Type) and Top 5 Defects Widgets

Loan Defect Levels

As shown above, three defect levels (i.e., Findings, PAL (Price Adjusted Loan), and Significant Defect) are assigned to loans in the Responsible Party Review Results. Each defect is represented with colored bars as mapped in the legend at the bottom of the report. Each defect is explained below.

Findings Defect

A finding is one or more defects that, when considered with other loan features, does not necessitate a change in the price of the loan or result in the loan being unacceptable even if the true and accurate facts about the loan had been known at the time Fannie Mae purchased or securitized the loan.

PAL Defect

A price-adjusted loan (PAL) has one or more defects that, when considered with other loan features and based on the facts of the loan as purchased or securitized by Fannie Mae, result in a loan that was otherwise eligible for delivery had the correct data been delivered and LLPA been paid to Fannie Mae by the lender.

Significant Defect

A Significant Defect is one or more defects that either necessitates a change to the price on which the loan was acquired or result in the loan being unacceptable for purchase had the true and accurate information about the loan been known at time of purchase. Loans with findings and PALS are not loans with significant defects.

Responsible Party Report Widgets

The Responsible Party Daily Pipeline and Responsible Party Review Results reports are displayed by selecting Dashboards on the left navigation menu. The following table lists the widgets in each daily report and links to an image of the widget.

Note: Refer to the Customizing Dashboard Reports for instructions on creating custom reports.

Responsible Party Daily Pipeline

Responsible Party Review Results

Seller File  Review Results

 

Responsible Party Daily Pipeline Report Widgets


The Total Outstanding Requests widget shows the number of pending requests for both full loan files and individual missing documents.

Total Outstanding Requests


Loan File and Document Requested: The Loan File widget on the left shows the number of loan files requested and delivered over a one-week (5 business days) period. The Documents widget reflects the timing of individual document requests based on the timing of the request. Documents Requested (Before Review), reflect requests for documents from a pre-underwriting review. Documents Requested (During Review), reflect requests for documents during the underwriting review process.

 
The Outstanding Requests: Loan Files widget shows the number of initial loan file requests or follow-up requests (if the original submission was rejected by Fannie Mae for some reason) that are outstanding along with the service level agreement (SLA) bucket that the requests fall into (i.e., In SLA, Near SLA or Outside SLA). The bar graphs to the right display the count of loans file requests that are expiring on particular days within a week.  

The Outstanding Requests: Documents widget shows the number of Loan File requests that are outstanding (i.e., Missing or Defective) along with the SLA bucket they fall into (i.e., In, Near or Outside SLA). The bar graphs to the right display the count of document requests that are expiring on particular days within a week. 

Refer to the Service Level Agreements job aid for details on the number of days you have to respond to or complete a request in Loan Quality Connect.

Outstand Requests: Loan Files and Documents


The Documents Requested widget displays both the Top 10 individual documents requests as well as the number of missing documents based on category. The Documents Requested widget provides detail on both missing documents and defective documents that were delivered.  

Top 10 Document Types


The Loan Status widget provides the status of all open full file or data only reviews. Statuses circled in red indicate that some Lender action is required. You may see the number of loans impacted by a status by clicking on the number in the circle. The loan numbers can be exported to an Excel spreadsheet.

 
The Reviews widget shows the number of loan reviews closed within a 30-day period and the defect results for the past 90 days.

 

Responsible Party Review Report Widgets


On the left below, the Self Report widget displays BI cards with Lender Self Report or Voluntary Repurchase activity, indicating how many requests have an activity status of Submitted, Proceed, Defer and how many require Additional Information.

To the right below, the Outstanding Remediation Activity widget displays BI cards with the count of loan reviews in each indicated state of the remediation process.


The Loan Review Defects widget displays loan counts for Findings, PAL, and Significant Defects. The right side displays the Top 5 Defects assigned along with the loan count. This also includes Findings, PAL and Significant Defects.

Loan Review Defects


The Top 5 Defects Widget can be filtered to provide defect level details. 

Occupancy Selection: Investor and Primary

Top 5 Defects

Channel Selection: Broker, Correspondent, and Retail

Loan Purpose Selection: Cash-out Refinance, Limited Cash-out Refinance, and Purchase

Hovering over a number card within a widget displays all of the loan numbers impacted. The loan numbers can be exported to an Excel spreadsheet.

Seller File Review Results Report Widgets


This is an added feature to the Dashboard to provide Sellers with feedback on the quality of their deliveries, which is based on loan file reviews. A report can be customized to obtain a snapshot within a specific time frame for sellers to determine loan quality and analyze any defect trends. 

The top section gives you multiple filter options to select report criteria.

After clicking Run, the Review Results widget appears. 


The bottom widget displays the Seller File Review Defects.