Category Archives: Education

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“OPERATIONAL EXCELLENCE AND INTERNAL AUDIT’S CRITICAL ROLE” Webinar

The Fannie Mae Selling Guide states that seller/servicers must “have internal audit and management control systems to evaluate and monitor the overall quality of its loan production and servicing”. There have been many recent citations for not having a sufficient internal audit function in Mortgage Origination Risk Assessment (MORA) reviews. For many mortgage lenders and servicers, risk management can be described as operational internal controls/management representing the first line of defense; and QC, regulatory compliance and legal departments representing the second line of defense. Mortgage…

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