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#2198525 - 11/16/18 08:45 PM Monitor HELOC Checks
complofcr Offline
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Joined: Apr 2010
Posts: 183
SE USA
During a recent external audit, it was recommended that we implement procedures to monitor HELOC checks that clear. The reason being is to monitor for any advances being made frequently and to look for any red flags. Does any other bank do this? If so can you share some guidance? I can't imagine monitoring every HELOC check that clears the bank.

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#2198559 - 11/16/18 10:59 PM Re: Monitor HELOC Checks complofcr
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,490
Galveston, TX
Did the external auditors specifically define the red flags that they are concerned about?
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