Does anyone have a loan audit program they could share or give some insight to what is included in a loan audit scope?

It depends on what type of loans you are auditing as to what the audit program will include.

Can you specify the type of loans then I should be able to provide you something? ie commercial, participation, installment, mortgage, secondary mortgage, HELOC

Also what type of audit are you conducting? ie compliance with a certain regulation, S&S, Sox

Should that be done by an independent third party, or internal auditors, or you could make it as easy as a verification of the checklist of materials included in the loans, and have another bank verify the information is correct and accurate.

I, like YaYa, it sounds, have a separate audit program for different loan types. ropingbanker, I am internal audit, so it is independent from the loan area.

I have a separate review for our loans sold to Freddie, than for our portfolio loans. I also review the loan review area too. Do you know what types of loans you'll be looking at?

While on this topic of loan review. I used to whiz down the HUD-1 adding up my finance charges to compare to my TIL. Now with the new HUD-1 and GFE figures I am struggling. My itemizations are hidden for Title Services and I am struggling to find a easy way to verify. What do the rest of you do?

By the way I do Quality Control reviews for FNMA and FHA but use the same policy for all our loans and pulling a 10% Field Review for FNMA and FHA's. Are you intersted in any of those checklists?

Our loan officers make a separate list of all the fees that are included on a particular line, such as line 801 they list the origination fee, commitment fee, underwriting fee, etc. That makes it easier to see what is on a line with several fees.

Regarding the checklists for the Quality Control reviews for FNMA and FHA, I would be interested in those checklists.

I would also be interested in those checklists.

Me again....sorry I will get those checklists out to you shortly.

I have another question. Does the 1100 and 1200 series on the new HUD's have any "Payable To" requirements? We always listed the title agency as a "Payable To" for the settlement fee, for example. I don't see anything on the sample forms in the Compliance Coach Guide to Getting it Right GFE & Hud-1/1A.

deh - I would love the checklists you mentioned!!!!

I would like the checklists also! Thanks in advance.

Is anyone using any sort of checklist to compare fees from the GFE to the HUD?

I would also like the checklist please. Thanks!

Oh, Oh, me too, please! I'd love any checklists you have.

Thanks in advance!