Auditing a Real Estate Loan File for Compliance Requirements

The goal of auditing is to catch errors and initiate corrective action before examiners do. This webinar will identify what examiners are looking for regarding compliance and safety and soundness and provide an audit program for real estate loans. It will go step-by-step on how to audit your files and use the tools provided.

Over the last several years the thickness of an average loan file has grown from being measured in millimeters to inches. This is especially true for residential real estate loans. Compliance staff are often responsible for reviewing these loan files either during the underwriting and approval process or in the days after the loan is closed. But with so many regulations governing loan compliance, what exactly should you be looking for? What documents need to be in the files and what are the important things to verify on each? We will discuss how to avoid mistakes when preparing consumer real estate loan documentation.

Covered Topics

  • Review a consumer application for completeness
  • Use provided checklists to verify loan file documentation
  • Explain best practices for documenting BSA requirements and Identity Theft verification
  • Identify the key regulatory items to look when auditing your loan files
  • How to pull your sample size for the audit (statistically and intuitively)
  • How to make your audit more “risk-based” as required by the examiners
  • Audit reporting procedures for the Board and/or Audit Committee

Who Should Attend?

This informative session is of course for Internal Auditors….. no question, however, Compliance Officers, lenders, loan administration and processing will also benefit from this session.