We are pleased to present you with the FHA Loan Review Summary Report. This report provides a quarter-by-quarter snapshot of the results of FHA's QC review of the industries' loan production over the last 12 months. This report only includes those loans underwritten that were subject to a post endorsement technical review. The attached report does not include the results of lenders self-reports or any other loans that were reviewed as part of a lender examination.
The report presents the initial rating of all loans, the updated rating as of 6 months from the end of the review period, and a final rating. Please note that the "final" rating is subject to change only to the extent that the particular cohort is not yet closed out by FHA.
The loan level findings information should enhance your ability to analyze trends and the frequency of unacceptable findings. Detailed loan review results in the reports include:
- Sample characteristics for cases reviewed including loan counts and percentage breakdowns based on loan types and finding categories
- The Top 15 findings for each of the past 4 quarters
- Trending results over the past 4 years
We hope this information will help you improve both our and your quality control and risk management operations.