Skip to content
BOL Conferences
Thread Options
#1074635 - 10/31/08 06:08 PM loan document processing and The Regs
QC is me Offline
Junior Member
Joined: May 2008
Posts: 27
Washington State, USA
Hi! I have recently been informed that I will be looking at our loan documentation process. The idea being that I will be reviewing our current processes to ensure they are sound and compliant. The problem for me is that I have no documentation experience.
Does anyone know about a site or a tool, or just anything, that will help guide me through just the loan documentation piece (Prom. Note, Collateral docs, insurance docs, etc) and what Regs affect what documents and how. Like what we need to make sure is on/said on the documents, how many should print,etc.
Perhaps something that breaks down each document within a loan package and points out the most sensitive parts.
Like if the documents are for a Home Equity loan, what documents should be there in the package (RTC, HUD1), etc.
Anything regarding loan docs! Thanks!

Return to Top
Lending Compliance
#1074783 - 10/31/08 08:06 PM Re: loan document processing and The Regs QC is me
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Do you mean you actually will be checking to see that the bank's existing policies and procedures require the correct documents and disclosures

or

will you be checking loans against existing bank policies, procedures and checklists?

Two very different things and in both, it is odd that the bank would charge you with that given your own stated lack of experience.


In either case, there are loan documentation courses, consumer, mortgage, commercial that can be taken via state banking associations, training organizations, etc. A local law firm can probably help with the note, security agreement, etc requirements.

There are also firms that can help you get such a program set up, including correct disclosures, and then the bank can run it.

It is a big task to undertake, especially when you are starting with little knowledge.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

Return to Top
#1074785 - 10/31/08 08:07 PM Re: loan document processing and The Regs Kathleen O. Blanchard
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Also, do you use a loan documentation system or are you working with paper docs created in house? If paper in house docs, you probably should consider an automated system - it would ease your burden considerably.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

Return to Top

Moderator:  Andy_Z