Analysis Assignment Example | Topics and Well Written Essays - 750 words - 3

Analysis - Assignment Example The quality control management depends on the policies and procedures of the various sections of the quality plan. The Credit Quality control procedures and policies are in place to ensure that the auditors are able to access the potential violation of any guidelines in connection with the policies and the procedures. The credit control procedure covers the following sections of the quality control plan: 1. Reviewing of policies for the changes in management- this complies with the quality control plan section of reviewing of procedural compliance in servicing. This assists in adjusting the quality control plan for audit, examinations, and findings procedures. 2. The review of outdated contents and a review of names of unaffiliated entities that are not relevant to the areas of editing - This relates to the quality control policy of ensuring that all mortgagees are eligible and has no connection with delinquent federal debt. 3. The control also makes preliminary conclusions regarding the strength or weaknesses of policies and procedures to come up with the areas best for transactions tests. This is to ensure that the quality control plan upholds timeliness and frequency in terms of servicing functions. 4. The credit quality control also involves testing whether the actual practices are consistent with the written policies and procedures of operations. This would make it easier to eliminate weakling procedures. The Servicing Quality Control policies and procedures address various sections of the quality control plan. As covered in the quality control plan, servicing quality control deals with issues revolving around the customer care, loss mitigation, default management, loan administration, and cash management, investor reporting and shared services. The servicing quality control checks the effectiveness of the PLS policies and internal controls to ensure that the business line has approximately mitigated key risks (James and Donald 287). The