Clayton Holdings, a risk analytics firm, said it has adopted new Fannie Mae promulgated quality control standards into its product offerings.
The Shelton, Conn.-based Clayton said Fannie’s requirements (mandated in lender letter LL-2010-03) requires GSE originators to create “written operational work flow procedures” and increases both post- and pre-closing work.
Among the new chores, lenders must confirm ten basic data elements prior to closing.
