FHA loans

2 posts / 0 new
Last post
MHardebeck

Hello everyone,I was wondering if any of you out here have a Quality Assurance/Control Program for FHA they would be willing to share.  Internal Audit does our quality control audits (we have FNMA loans, too) and we do not outsource anything.  My FNMA QC Program included FHA loans, but I am trying to separate FHA from FNMA before we actually have our first FHA 1st mortgage loan on the books.  One of the questions I had come up deals with FHA 2nd mortgages.  Do the 2nd mortgages fall into the category with the 1st mortgages and are they subject to the same quality control standards and testing as the 1st mortgages?  Any help would be greatly appreciated.  (Or other possible resources would be helpful, too!)Thanks - Marnie