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d. Required Documentation (09/20/2021)
The Mortgagee must document the existence of its QC Program and evidence of its implementation, including written procedures, QC reports, and corrective action plans. All applicable documents must be dated to demonstrate compliance with the retention and reporting time frames in Quality Control of Lenders and Mortgagees.
i. Time Frame for Retention
The Mortgagee must retain all QC review results, including all selection criteria, review documentation, Findings, and actions taken to mitigate Findings, for a period of two years from the initial QC review, or from the last action taken to mitigate Findings, whichever is later.
ii. Production of Documents
The Mortgagee must make all documentation relating to its QC Program available to FHA at any time upon request.