Freddie Mac Announces QC Enhancement Tool
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Freddie Mac announces QC enhancement tool. Freddie Mac has announced a new tech advancement to streamline and strengthen its Single-Family quality control (QC) process. The GSE's new Quality Control Advisor Plus will further enhance loan quality, drive efficiency, and lower costs through technology that automates the quality control review and remedy process on delivered loans. A phased onboarding of Quality Control Advisor Plus is underway, and will be available to all lenders by year-end. "Quality Control Advisor Plus will cut months off the current QC process for most lenders," said Sonu Mittal, executive vice president and head of single-family acquisitions at Freddie Mac. "This new platform doubles down on our transparent and proactive approach to modernizing our QC processes. It provides considerable efficiencies for lenders so they can quickly identify and remediate issues as early as possible to minimize recurring defects and improve loan quality." The new platform is an integrated solution that unifies previously separate QC systems, and will be available to all lenders by year-end. This includes the more than 500 lenders that are already taking part in Freddie Mac's performing loan repurchase alternative pilot. To date, participating lenders have saved millions of dollars in performing loan repurchases collectively. Additionally, the pilot is incentivizing...
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