A.2.1.1.2 Submission and Compliance

A. A QC Plan is a required exhibit in the Lender’s application package for MAP approval and must be included as Exhibit M and be submitted in electronic PDF format, signed by an authorized signatory of the Lender. The MAP Lender must annually review and update its QC Plan and, whenever the plan is revised, the Lender must send updated PDF copies to Counterparty Oversight Branch (COB).

B. The Lender must comply with its QC Plan and with the underwriting, monitoring and servicing requirements of the MAP program on a continuous basis to maintain MAP eligibility. Failure to comply with these requirements or with its QC Plan may result in revocation of MAP privileges and/or other administrative sanctions.