FOR IMMEDIATE RELEASE

 

Contact: Ed Hunter, The KLR Group

Phone: 978-475-1940

Email: ehunter@theklrgroup.com

 

The KLR Group Announces Full Compliance with Fannie Mae Selling Guide

Fannie, Freddie, FHA and VA mandate mortgage lenders to perform Post Close QC reviews, The KLR Group has the technology and services to meet lenders cost and compliance needs

Today, Aug 7, 2019, FNMA announced changes to the mandatory Quality Control requirements that will be needed beginning Jan 2020. The KLR Group provides full compliance today. When utilizing the KLR Post Close file review/QC services, lenders will be in compliance with the updates as required by Fannie Mae. The primary areas of concern are:

  • Add requirements to the QC vendor reporting timeframes and the statistical sampling methodology.
  • Give more specific guidance related to the independence of the QC function, the QC staff, and the reverification of income, employment, and assets.
  • Provide new flexibilities related to reverifying Social Security retirement income and military income.

These updates may impact QC requirements for those who deliver loans to Fannie Mae. FNMA will be hosting a QC vendor webinar to provide more information on these updates and how you can best prepared.

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If you would like more information, please call Ed Hunter at 978-475-1940 or email info@theklrgroup.com