Jay Hinton, Senior Director in Corporate Quality and Compliance at Digital Risk, recently got published in BAI.org in his article titled “As interest rates rise and fall, behold the constant of quality control” discussing the impact of fluctuating interest rates on quality control.
While designing a quality control group, consistency is something which is looked at to ensure that the mortgage applications meet forecasted expectations, defects identified and coached to the disappearance of issues and zero percent attrition.
While volume fluctuations are the norm, professionals in quality control (QC) must employ a system that handles change, copes with volume or defect-rate spikes, and provides consistent, credible intelligence to executives and operations.
The staples of a strong QC program are the pre-closing QC reviews, post-closing QC reviews and documentation of reviews. To create an effective, flexible and scalable quality control program, five facets prove integral which include Communication, Uniform rating system, Objectivity and guideline support, Eliminating Subjectivity and Incentivizing high quality work
To read in detail about all the pointers and Jay’s first hand comments, click here