Retail_Loan_Reviews

Retail Loan Reviews

Consumer Loan Review Services

Do you worry about your loan portfolio being in compliance with internal lending policies and procedures? Were loan documents properly signed and dated? Has our collateral been perfected? What about insurance – do we have the right amount and are the loss payees? If these are questions that keep you up at night, we can help put your mind at ease. Our consumer loan review services are tailored to assist management by focusing on the areas of most concern.

In addition to our consumer loan review services, we also perform quality control review for various secondary market quality control programs, including Freddie Mac, Fannie Mae and FHA lending programs.

The following are types of consumer loan reviews we can perform for your Institution.

Consumer Lending Review – Periodically, institutions may find it necessary to perform periodic reviews of mortgage and installment files to ensure loan officers and the operations department is following bank policies and procedures. We assist management by selecting a sample of loans from the portfolio and performing substantive testing to ensure policies and procedures were properly followed, including approval, input, document tracking and ensuring the bank has maintained its collateral position.

Secondary Market Quality Control Loan Review – Many financial institutions participate in selling loans to the secondary market. One of the requirements when selling loans to the secondary market is the performance of a quality control review to ensure the loans sold meet investor quality control standards. We assist management, saving them both time and money, by ensuring committed loans meet secondary market selling standards. We identify and report any discrepancies between the credit quality standards and the loans reviewed to management. Additionally, we handle all re-verifications of employment, income, deposit, credit and appraised property value.

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