Blog: The Perfect Formula for a Robust, QC Process (spoiler alert: it doesn’t exist)

We’ve had some strong refi years, but lenders are challenged in this change of cycle. Lenders and QC departments face additional pressure to get loans to the closing table faster. Streamlining QC processes is now more important than ever for managing risk and accelerating growth. While we would love to take full credit for our client partners’ success realizing audit efficiency gains or streamlining review processes, the truth of the matter is that it’s a team effort.

Our most successful clients all have robust, compliant QC processes in place from beginning to end, but how they go about getting there varies. Some have just a handful of in-house team members focused on managing QC processes, while others have more than one department. What they do have in common, however, is partnering with us as their third-party QC vendor to largely manage their post-funding and servicing audits.

No matter how you slice it or dice it, what makes the combination of in-house and third-party QC so powerful? Internal teams know the ins and outs of an organization. When operating in lock-step with other departments, the QC team can quickly and efficiently run audits and validate results. Meanwhile, a third-party with an 100% US based team, like QC Ally, can come in as an extension of your team to take the burden off of your team for any part of the loan manufacturing process. Benefits include:

  • Greater accuracy
  • Improved speed
  • Additional trained resources at their fingertips
  • Proper check the checker audits
  • Tech-enabled experts that understand the entire lifecycle of the loan across many lenders
  • Ability to handle multiple languages expanding community access

At QC Ally, we encourage a partnership of in-house prefunding with tech-abled services for flexibility and control towards the closing. This helps balance efficiency with accuracy for the lifecycle of the loan. A QC vendor can provide the expertise needed for more complex and time-consuming post-funding and servicing reviews. With QC Ally’s LQ Pro©, world-class platform, our client partners can run reports and analysis from first interaction with the client to the loan payoff.

You can learn more by reading HousingWire’s recent interview with HW Vanguard Awards recipient, our Chief Operating Officer and President, Donna Gibson here.