Fannie Mae Quality Control Timing Requirements
Fannie Mae recently updated its Selling Guide with announcement SEL-2019-03 which includes the requirement that lenders notify Fannie Mae using the self-report functionality in Loan Quality Connect within 30 days if the lender’s post closing quality control cycle is in arrears more than one 30-day cycle. Fannie Mae requires that mortgage loan post closing quality control reviews must be completed within 120 days from the month of the loan closing. If you need assistance in meeting this timing requirement, please contact Regulatory Solutions for all your post-closing quality control needs.