We're new to purchasing mortgages from ABN AMRO, and I need to create a loan review process. What are others doing as far as review on purchased mortgages? Reviewing for appropriate documentation? Credit quality? I'd like to hear what the scope of these reviews are.

Loan review would be different for purchasing an existing portfolio and that of a new loan "flow" program, which should be governed by a purchase agreement and under what circumstances you could require a buyback. If it is a flow program, you could just follow QC guidelines and add a credit quality element. Although, for loan review purposes, we seldom look at small, homogeneous loan products like home loans. We just classify them based on delinquency status. Documentational review is more a QC function. Hope this helps.