We just started mandatory delivery and hedging in our secondary mortgage division. I've got an audit program that I've put together based on what I know and we're outsourcing at least the first audit to an audit firm that knows the subject. Does anyone have an internal audit program for the hedging function that they'd be willing to share?

Thanks in advance!

Bump.
Anyone?
Buehler?

The OCC has a Mortgage Banking Booklet which has examination and review procedures. It is at
http://www.occ.gov/publications/publications-by-type/comptrollers-handbook/mortgage.pdf

This is the resource we use for our mortgage banking audits too. Even though we are not an OCC bank, this is a great guide (but getting a bit dated).

Thanks. I'll take a look at it.