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#697494 - 03/06/07 09:02 PM Mortgage Co. Audit Program
txgal, CRCM Offline
Junior Member
Joined: Jul 2006
Posts: 44
My Bank recently purchased a mortgage compnay and they are included in the holding compnay umbrella. The CEO has aked me to start performing internal audits. This will include looking at their balance sheet and loan files. Does anyone have suggestions for a scope for this type of audit or do you have an audit program? Any help is greatly appreciated.

I tried to explain that I was only qualified as an Internal Bank Auditor to deaf ears.


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#697915 - 03/07/07 04:23 PM Re: Mortgage Co. Audit Program txgal, CRCM
Snowgirl Offline
Platinum Poster
Joined: Sep 2003
Posts: 710
I have a checklist that I use when I audit our mortage loan files. It includes checks for compliance matters including timing of disclosures, collection of Reg. B Monitoring information and Reg. B Spousal issues, RESPA information, Flood issues, etc. as well as bank policy/procedures "clerical" issues (initials, signatures, bank checklists etc). I don't audit the file for credit quality and I don't look at the bank's balance sheet though.

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