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a. Quality Control Plan Overview (03/14/2016)
i. Definition
A Quality Control (QC) Plan outlines the processes and procedures used by the nonprofit to monitor its compliance with FHA nonprofit program guidelines.
A Finding refers to a determination of defect by the nonprofit agency.
ii. Standard
The nonprofit must develop and implement a QC Plan that explains its internal and external audit and monitoring procedures and must fully comply with the requirements in the Doing Business with FHA – Nonprofits section. The QC Plan must include the nonprofit’s reports, any reports of fraud, corrective action plans, and review procedures.
The nonprofit must maintain and update its QC Plan as needed to ensure it remains fully compliant with all applicable FHA requirements.
iii. Required Documentation
The nonprofit must retain all QC review results, including all selection criteria, review documentation, Findings, and corrective actions taken to mitigate or resolve Findings. This documentation must be maintained for a minimum of three years. The nonprofit must make all documentation relating to its QC Plan available to FHA at any time upon request.