Our bank recently finished an FDIC compliance audit. The examiner specifically asked for and reviewed several files of loans sold to secondary market. Those files are not one and done and forgotten as some assume.
Same thing here, examiners looked at several secondary market mortgages during our last compliance exam. We also sample them during our internal monitoring. If the Lending area isn't getting them right for secondary market loans, they probably aren't getting them right for our own portfolio either. Just my experience.
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