Regulatory Compliance and Quality Control

By leveraging our experience reviewing residential mortgage origination and servicing organizations Clayton can offer your business a number of custom fit solutions.  

Suite of Regulatory Compliance and Quality Control Services

Regulatory Compliance

  • Assess current loan origination programs for compliance with investor guidelines including Fannie Mae, Freddie Mac and FHA.
  • Review current servicing operations for compliance with terms of regulatory Consent Orders.
  • Determine “gaps” in servicing practices and recommend appropriate remediation steps.
  • Customize reviews to meet the requirements of governmental agencies or government sponsored enterprises.

Consumer Financial Protection Bureau (CFPB)

  • Assess compliance with CFPB's published mortgage origination and servicing examination procedures.
  • Assessment includes: Written policy and procedure analysis, management interviews, work observations and granular file testing.
  • Provide assistance to remediate identified gaps in CFPB compliance.
  • Assess appropriateness of remediation of identified gaps in CFPB compliance. 

Quality Control

  • Review and evaluate existing quality control procedures to include compliance with required audits of FHA, Ginnie Mae, Fannie Mae, Freddie Mac and institutional investors.
  • Counter-party or third party vendor compliance reviews and/or creations of ongoing counterparty oversight processes.
  • Evaluate existing quality assurance programs to ensure policies and procedures meet industry practices.
  • Assess the timing and content of internal audit procedures to determine effectiveness and efficiency. 
  • Annual Operational review to review the enterprise level and process standards of the servicer's QA plan for compliance with the QA plan filed with MERS.
    • For servicers with over 1,000 loans, a review of the Annual Report, confirming its accuracy and that it meets MERS requirements.
To learn more about our Regulatory Compliance and Quality Control services, contact us today.