TOPIC: Quality Control

Can you do one 4506T form when doing multiple loans to one customer

VP at a bank ($296MUSA)
If a borrower has two loans that are in process at the same time, is it customary to rely on just one signed 4506T form for both loans? It would make sense to me to have the borrower only sign one form because there is no loan number referenced on the form and you wouldn't order the transcripts twice as they are going to be the same.

    Compliance Monitoring for Mortgage Loans

    AVP at a bank ($403MUSA)
    We use DocMagic as a provider for our loan documents.  I recently learned that they will conduct a compliance check on each loan and was wondering if anyone else uses them for this.  I would love some feedback as to how this works; is it reliable and do you find it to be useful...any information would be helpful.  We have a one person QC department and she is getting bogged down, so we are trying to find another solution.  Thank you in advance.