“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 companies have recently come under increased pressure from regulators and the GSEs to have an internal audit function, representing a third line of defense. While this may initially seem burdensome, internal audit functions can add substantial value throughout your entire organization when effectively and efficiently implemented and managed. Internal Audit is an investment in the security and soundness of your organization, and by properly managing risk, you are setting your organization up for even greater success in the future. After this presentation, participants will have an understanding of:
- Benefits of Internal Audit
- Internal Audit Regulatory and GSE Requirements
- Internal Audit Purpose and Independence
- Internal Audit Process
- Staffing Considerations
Brian J Mischel, Partner at BKD Cincinnati, OH
Ryan Sailor, Director at BKD New York, NY
Friday, February 9, 2018 10:00am-11:00am
OMBA Member $99.95
2018 CONVENTION SPONSORS
* OMBPAC Golf TournamentOMBPAC Golf Tournament
Time: 12:00 pm
Annual Golf Tournament to benefit OMBPAC at The Lakes Country Club. Includes lunch, cocktail hour and dinner