Real-time Precise Point Positioning (PPP) relies on the use of accurate satellite orbit and clock corrections. If these corrections contain large errors or faults, either from the system or by meaconing, they will adversely affect positioning. Therefore, such faults have to be detected and excluded. In traditional PPP, measurements that have faulty corrections are typically excluded as they are merged together. In this contribution, a new PPP model that encompasses the orbit and clock corrections as quasi-observations is presented such that they undergo the fault detection and exclusion process separate from the observations. This enables the use of measurements that have faulty corrections along with predicted values of these corrections in place of the excluded ones. Moreover, the proposed approach allows for inclusion of the complete stochastic information of the corrections. To facilitate modelling of the orbit and clock corrections as quasi-observations, International Global Navigation Satellite System Service (IGS) real-time corrections were characterised over a six-month period. The proposed method is validated and its benefits are demonstrated at two sites using three days of data.