QC Reports and MARS
The clients that outsource post-closing QC to QMS will have access to the MARS portal. The portal is where the QC Manager will find various reports, analytics, trend analysis, and score cards that will help in developing and maintaining a robust QC Program. Some clients who outsource mortgage audits to QMS have a staff analytics and score cards.
- Graph & Charts that measure finding categories and measures risk rankings
- Risk Association Reports that enables the QC Manager to search different risk ranking for a period of time or reporting period where all people who associated with the loan are listed from borrower to Title Company. The QC Manager can sort in order to see groupings of loan officers, processors, underwriters, appraisers and others.
- Fraud Pattern Analysis enables the QC Manager to compare only high risk loans by TPO city, state, and zip code. The pattern is very helpful when trending appraisers and loan officers who operate in extended areas.
- Compare and Contrast report is the most used tool in the MARS portal. QC Managers have the ability to compare up to 6 reports at a time. Reports can be based on the client’s respective reporting periods. The compare contrast report demonstrates QC Program effectiveness or areas that need improvement from one reporting period to the next.
Underwriting Area consists of 3 different types of reports:
- Underwriter Analysis – The underwriter is measured against the number of files graded in the mortgage audit and how many findings in each category with at total of findings. A ratio can be determined on the percentage of files audited to the number of findings associated with the underwriter.
- Audit Analysis – Grades the underwriter as per risk ranking and association with the originator as per the category of findings. This helps to analyze if the underwriter and originator have common findings that persist.
- Compare Underwriters – This grades all underwriters against their peer group by calculating the by comparing percentages of each probable categories.
QC Year End Review
The report is powerful. It enables our clients to compare themselves against the entire industry and their peer group in lending in many areas. This includes FHA and Conventional loans as well as a report card comparing levels of mortgage banking.