FHA Single Family Housing Policy Handbook 4000.1, Part V — a. Quality Control Plan Overview (03/14/2016)
FHA Single Family Housing Policy Handbook 4000.1, Part V — a. Quality Control Plan Overview (03/14/2016).
Verbatim regulatory text
Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, Part V — a. Quality Control Plan Overview (03/14/2016) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHA Single Family Housing Policy Handbook 4000.1, Part V — a. Quality Control Plan Overview (03/14/2016)
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.