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#1959264 - 09/04/14 03:09 PM Post Closing Audit
tcbruton Offline
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Joined: Sep 2014
Posts: 1
HI All, Newbie here. I am new to this financial institution and they do not have a checklist for performing post-closing audits. Does anyone have a checklist of post closing compliance audit review I can use?

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#1959609 - 09/05/14 02:02 PM Re: Post Closing Audit tcbruton
osucpa Offline
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Joined: May 2011
Posts: 1,403
I think you will find every auditor performs their audits just a little different. For instance, we perform our compliance audits by regulation, therefore we are only looking for specific items. If you are looking at one loan and trying to cover everything, that is a lot of information to cover.

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#1959758 - 09/05/14 06:11 PM Re: Post Closing Audit tcbruton
RR Jen Offline
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RR Jen
Joined: May 2003
Posts: 3,759
Running and riding everywhere ...
Do you really want an "audit" for someone totally independent to perform or do you want a quality control process maybe back in loan servicing?

We have a post closing review done by someone in loan servicing. They track loan policy exceptions, missing documentation, etc. Our compliance internal audit function and compliance transaction monitoring by the compliance officer works like osupa...we look at them by regulation. So a file review is done for Flood or HMDA. They don't review the entire thing.

Hope that helps!
I don't need any more negativity in my positive and helpful people or I will kick you in the shins!!!

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#1971622 - 10/23/14 08:31 PM Re: Post Closing Audit tcbruton
PATSGirl74 Offline
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Joined: Aug 2009
Posts: 43
We have a post-closing quality control checklist we use for originated mortgage files. It covers the entire mortgage file for disclosure requirements and regulations (flood, hmda, etc.)The only area it does not cover, which is covered seperatly by our internal auditor is the underwriting if the loan. If you want I can send you the checklist and you can see if it something you might use PM me is you want a copy emailed to you
In my neck of the woods we have four distinct seasons...Winter,Spring,Summer and FOOTBALL

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#1982944 - 12/13/14 12:43 AM Re: Post Closing Audit PATSGirl74
Chocaholic Offline
Gold Star
Joined: Aug 2005
Posts: 443
We are considering rolling out a mortgage loan program - so I would be interested in seeing your checklist as well if you would not mind sharing.

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#2010042 - 04/24/15 01:49 PM Re: Post Closing Audit tcbruton
Blessed Offline
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Joined: Oct 2007
Posts: 2,389
If you wouldn't mind sharing I'd be very interested!
Ecclesiastes 10:2 (NIV)

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