Mortgage servicing examination procedures
After completing the risk assessment and examination scoping, examiners should use these procedures, in conjunction with the compliance management system review procedures, to conduct a mortgage servicing examination.
The examination procedures contain a series of modules, grouping similar requirements together. Depending on the scope, each examination will cover one or more of the following modules:
- Module 1 Servicing Transfers, Loan Ownership Transfers, and Escrow Disclosures
- Module 2 Payment Processing and Account Maintenance
- Module 3 Consumer Inquiries, Complaints, and Error Resolution Procedures
- Module 4 Maintenance of Escrow Accounts and Insurance Products
- Module 5 Credit Reporting
- Module 6 Information Sharing and Privacy
- Module 7 Collections and Accounts in Bankruptcy
- Module 8 Loss Mitigation, Early Intervention, and Continuity of Contact
- Module 9 Foreclosures
- Module 10 Examiner Conclusions and Wrap-Up
Mortgage Servicing Examination Procedures (June 22, 2016)
- This mortgage servicing examination procedures update reflects technical corrections, regulatory changes, and revised examination priorities.
Full Mortgage Servicing Examination Procedures (Jan. 10, 2014)