We recently passed $500 million in total assets. During our most recent financial audit, our auditor indicated that we would need to have a yellow book audit performed to remain compliant with Fannie Mae Servicing reguidelines; however, we cannot find any information on this "requirement." We have also reached out to our 3rd party mortgage QC provider, who couldn't shed light on the situation either. Any gudieance would be appreciated.

Thank you,

Jake

We are >$500MM and work with FNMA to service loans. Not aware of a 'yellow book' audit. The only thing we've had to do is Mortgage Servicing Rights but that's not tied to FNMA.

Well, like all things of this nature, when someone tells you something like this, just ask them for the citation or the source as you are not familiar with the requirement. Otherwise, you spend your time searching for a needle in a haystack and it might not even be there.

Thanks for the responses.

JB