Auditing Consumer Real Estate Files
Do you have an effective audit process for consumer real estate files? The goal of auditing loan files is to identify errors and initiate corrective action before examiners arrive. There are so many regulatory requirements like TILA, FDPA, ECOA, BSA, and FCRA. This webinar will explain how to maintain compliance, how to determine your sample size, and how to review an application for completeness. Join us to learn how to avoid mistakes when preparing consumer real estate loan documentation.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Review a consumer real estate application for completeness
- Explain when and if a credit report should ever be reused
- Distinguish whether a loan requires government monitoring information (GMI) to be collected
- Document compliance with BSA, OFAC, and identity theft requirements
- Verify timing and accuracy of disclosures required by ECOA, FDPA, and TILA
- Use provided checklists to verify loan file documentation
- Identify the key regulatory items to watch for when auditing loan files
WEBINAR DETAILS
A consumer real estate loan is governed by what can seem like an overwhelming number of regulatory requirements. TILA, FDPA, ECOA, BSA, and FCRA all require documentary evidence showing that your institution has complied with the applicable regulatory elements. This session will detail how to pull your sample size for the audit (statistically and intuitively) and explain exactly what to look for. It will review the file documents needed and the important information to verify on each.
WHO SHOULD ATTEND?
This informative session is designed for mortgage loan officers, loan processors, compliance officers, and internal auditors.
