TO EVERYTHING, THERE IS A SEASON
By: Donna Gibson, COO and President of QC Ally
As I sit here thinking about the year to come, I keep hearing The Byrds’ song play in my head. Just like in “Turn! Turn! Turn!”, there is a season for everything. Right now, our industry is seeing a much different landscape from even a year ago. Not only are companies exiting, being acquired, and feeling the pressure, but the GSEs continue to tighten their reviews. Just the other day I heard from one of our client partners that, while our team helped them create accurate and compliant reports, they were surprised at the auditor’s opinions around specific verbiage. Instances like this are countless, and the smaller the lender, the bigger the burden this can be on their business.
At QC Ally, we appreciate this feedback so that we can incorporate each auditor’s specificities as much as possible within our reporting to help minimize back-and-forth for you. That said, we are equally focused on upcoming market and GSE requirements to ensure we aren’t missing the house through the trees. At the end of the day, we care about quality, but so should you!
Why care about quality?
- Integrity. Your reputation is at stake. Make sure your teams and your third-party providers are doing the right thing when no one is watching. That way, when people ARE watching, you can rest assured knowing the accuracy and quality is already there.
- Cost. The last thing you want is to spend money on costly buybacks and fines. By ensuring you are originating compliantly and with accuracy, not only can you avoid these unplanned costs but also save on time spent going back-and-forth remediating findings.
- Efficiency. Whether you manage your QC processes in-house, with a third-party, or via a hybrid model, if you are doing it right, you shouldn’t feel like QC is bogging your processes down. In fact, you might even start to see QC turn into an opportunity for reducing turn-times and remediation. I promise it’s possible!
So, while we might be in a changing season, I see it as “a time to plant” as The Byrds put it. With mortgage rate cuts expected throughout the year, now is the time to lay a strong QC foundation for what will hopefully turn into “a time to reap”! Contact us to learn how we can help: