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Exception Tracking Spreadsheet (TicklerTrax™)
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Reg Z - High Priced Mortgage Loan Checklist

Debbie Grooman, aka Wyogirl in the BOL threads, is an AVP for the Independent Audit and Compliance Department of the First National Bank of Wyoming, Wyoming National Bank, The Rawlins National Bank and the Yampa Valley Bank. She created this High Priced Mortgage Loan Checklist and Worksheet. The HPML Checklist was revised in May 2012 to allow for the 2.5% Jumbo margin.

To best use this tool, the loan officers at her banks refer to the Consumer Credit Compliance Matrix whenever they do a loan involving real estate.This has a column under Reg Z whereby a covered loan will require the officer to complete the HPML Checklist.The matrix and the completed checklist are be kept together in the file for compliance auditing.

The Consumer Credit Compliance checklist is an Excel file that that carries the user through a description of the loan, and what is required for Reg B, C, Z, H, AA, FCRA and RESPA. Lenders can print the list when real estate is involved, hi-lite the loan type they are funding and follow along marking off each form or requirement as it is met. (This checklist is a good tool in itself.)

First published on 05/12/2012

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