MortgageManuals

Business Process Management, Quality Control, Compliance

[MortgageManuals @tmortgman]

"Hey quick question – do you offer bare minimum qc plans? This seems like its intended for bigger companies?"

We have two QC Plans - 1.) a Lender/Agency QC Plan and 2.) Broker/Non-Delegated QC Plan.

In general, understand that QC is a process, not related to a company's siz....

[MortgageManuals @tmortgman]

We offer these risk assessments (vulnerability) here. https://t.co/jjjggOAXOa

[MortgageManuals @tmortgman]

Georgia, New York, and others require Penetration Testing/Vulnerability Assessments.

Note to small companies, you cannot conduct penetration testing on someone else's network or system. So, modems and routers that belong to another company cannot be te... https://t.co/zn2XUWw8IW

[MortgageManuals @tmortgman]

Still seeing unlicensed contractors in support roles - LOA, Processor, Underwriter, Marketers - it's not the title, it's the role. AND if you have this role as a contractor, you must have written responsibilities surrounding the role.

[MortgageManuals @tmortgman]

Request your update by replying to this message

[MortgageManuals @tmortgman]

REMINDER!! Most states do not require call reporting or submission of investment/business purpose/commercial loans Keep a separate pipeline for these loans because we are seeing some regulatory flux in this area. In addition, not al states feel this way.

TRUE Commercial (Lic....

[MortgageManuals @tmortgman]

TEXAS EXAMINATION - Simple errors can be the difference between a 1 (Strong) and a 2 (Satisfactory). In this case, repeated errors in document retention and the correct completion of the Privacy Notice made the difference.

https://t.co/ebsvrdNbY1

[MortgageManuals @tmortgman]

We help brokers and lenders save time in complying with regulatory requests

[MortgageManuals @tmortgman]

State Regulatory Exam 101 - Virginia Example Understanding how to reference your policies and procedures to
1.) Save time in writing responses (e.g., instead of a narrative that says, "here's what we do, " say "Please see our procedure here 2-97 Disast...
https://t.co/B3haDlDBIq

[MortgageManuals @tmortgman]

State Examinations - Virginia - Common Findings

1 - Pre-approval without underwriting approval in advertising
2 - Late Call Reports
3 - Incomplete Manuals and Procedures

https://t.co/B3haDlDBIq

[MortgageManuals @tmortgman]

Michigan Exam - Common Findings/Questions
Does the licensee/registrant maintain policies concerning its criteria for approval or denial of a Michigan mortgage loan? You should walk this one closely, because if you're not following our policy, they will look for adverse notific...

[MortgageManuals @tmortgman]

We do provide AML Independent Reviews/Audits - and they are cheaper when you use our plans.

[MortgageManuals @tmortgman]

We have compiled a list of states that require AML Audits AT THE TIME YOU APPLY FOR A LICENSE. Often, for a de novo company, it makes no sense to you; what are they auditing? Remember, the audit is to see that you are PREPARED to comply.

[MortgageManuals @tmortgman]

Stolen wires: If this isn't your biggest concern, it's certainly the customer's biggest nightmare.

See our knowledgebase article here: https://t.co/dKKiO0J8qE

[MortgageManuals @tmortgman]

MLO Comp plans receiving greater scrutiny from states now that CFPB has backed off

[MortgageManuals @tmortgman]

REMINDER: Managers should not distribute borrower-paid pricing sheets to MLOs for pricing. MLOs should not be able to set their own pricing., You need to do this to ensure that the MLO does not price a loan that results in a LOSS to you.

This mistake most often comes up 1.)....

[MortgageManuals @tmortgman]

State Exams - it's a lot easier to keep the toothpaste in the tube than to put it back.

https://t.co/A9EdCVLZYp

[MortgageManuals @tmortgman]

State Exams and Focus on CyberSecurity - Realizing nearly every state examination is requiring significant work on cybersecurity. If you have our plan, you are in good shape, but you need to ensure you understand what you do.

[MortgageManuals @tmortgman]

"Hey quick question – do you offer bare minimum qc plans? This seems like its intended for bigger companies?"

We have two QC Plans - 1.) a Lender/Agency QC Plan and 2.) Broker/Non-Delegated QC Plan.

In general, understand that QC is a process, not related to a company's siz....

[MortgageManuals @tmortgman]

We offer these risk assessments (vulnerability) here. https://t.co/jjjggOAXOa

[MortgageManuals @tmortgman]

Georgia, New York, and others require Penetration Testing/Vulnerability Assessments.

Note to small companies, you cannot conduct penetration testing on someone else's network or system. So, modems and routers that belong to another company cannot be te... https://t.co/zn2XUWw8IW