Compliance Manager Audits
One of the most time consuming tasks for the compliance manager is the preparation for an audit. It's like preparing for a sports contest, because once it's game day there's nothing you can do except watch it unfold. Preparation is the key. The more information you can provide an auditor with, the more comfortable the auditor will be with your business' operation, and your competence in managing it.
State Audit Preparation
State mortgage regulators typically give short notice - 1-2 weeks - and provide a list of items needed to provide at the audit. Our audit prep services cover all the policy and procedure related audit prep, as well as providing any necessary training and audit reports.
Banking regulators tend to provide a much longer lead time, but also expect to spend far more time in reviewing files and operations.
Annual Operating and Compliance Audits
The requirement for an operating audit stems from the idea that your policies and procedures might be comprehensive, but that if you aren't following them, they are useless.
We review policies and procedures and scrub them against your loan files to evaluate your compliance with your own requirements.
Quality Control Audit
Your Fraud, Privacy, Fair Lending and industry Quality Control processes are documented. You have an auditor doing the reviews, and everything's great. Or is it? Our reviews of the reviewer point out areas of deficiency before a third party can, saving your credibility.