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:

Routine Servicing 

  • 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 

Default Servicing

  • Module 7 Collections and Accounts in Bankruptcy
  • Module 8 Loss Mitigation, Early Intervention, and Continuity of Contact 

Foreclosure

  • Module 9 Foreclosures

Conclusions

  • Module 10 Examiner Conclusions and Wrap-Up
Current Update

Mortgage Servicing Examination Procedures  (June 22, 2016)

  • This mortgage servicing examination procedures update reflects technical corrections, regulatory changes, and revised examination priorities.

Past Updates

Full Mortgage Servicing Examination Procedures  (Jan. 10, 2014)