QC PLAN
How to structure a mortgage quality control plan
The written plan should tell a new reviewer which loans enter the population, how files are selected, what evidence is required, who can clear findings, and how material defects reach management.
Operational guidance, not legal advice. Validate the workflow against your written QC plan, current agency/investor guidance, and counsel.
Core sections
Scope and governance come first. Then define population, selection, review procedures, reverification, defect taxonomy, corrective action, reporting, retention, vendor oversight, and change control.
- Products and channels in scope
- Random/statistical and discretionary methods
- Turnaround targets and aging controls
- Evidence and reverification standards
- Materiality and escalation rules
- Management reporting and root-cause ownership
Change control
Record the effective date and approval for every plan or rule change. ExactClose report snapshots retain the engine version, while organization settings retain the operational requirements.
Last methodology review: July 14, 2026. Source requirements and vendor capabilities change; verify current text before relying on it.