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Deutsche Bank and MortgageIT failed to implement the quality control procedures required by HUD (Housing and Urban Development), and their vioiations of HUD rules were egregious.
FORBES: Connect
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For instance, according to the suit, the bank did not have proper quality control procedures in place that would prevent ineligible mortgages from receiving FHA insurance.
FORBES: Did Deutsche Bank Really Hide Its Bad Audits In A Closet?
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She insisted providers adhered to stringent "procurement policies and procedures for sourcing and ensuring quality control of food products for school menus".
BBC: Iceland boss blames councils over 'poor meat quality'
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Establish a compliance program to ensure mortgage-servicing and foreclosure operations, including loss mitigation and loan modification, comply with all applicable legal requirements and supervisory guidance, and assure appropriate policies and procedures, staffing, training, oversight, and quality control of those processes.
FORBES: Mortgage Lenders Get A Slap On The Wrist