Mortgage Compliance
Mortgage Compliance
With continued changes in regulations and market pressures, lending organizations are challenged to be efficient and compliant.
Baker Tilly’s mortgage team meets these challenges with an end-to-end suite of solutions designed to help organizations navigate the complexities of the ever-changing residential mortgage landscape.
Our team assists mortgage lenders, banks, credit unions, and other financial institutions with dedicated mortgage regulatory compliance and risk advisory offerings, along with specialized financial services that produce meaningful outcomes by providing the in-depth mortgage expertise and digital technology exposure necessary to support our clients from all angles—keeping them agile and sustainable in a quickly-evolving environment.
Our mission is to operate as an extension of our clients' organization — not just simply act as a vendor.
Get to know our services
We offer a wide range of mortgage compliance services designed to assist you with navigating through even the most complex compliance issues. Let our team of seasoned mortgage professionals transform your compliance and quality control (QC) into profit preservation for your organization.
Quality control solutions
Stay ahead of the ever-evolving risk demands of the mortgage industry with Baker Tilly’s advanced quality control (QC) platform. Our audits not only deliver daily and monthly QC results that help clients identify and address manufacturing quality errors, they also actively support clients’ efforts to meet government-sponsored enterprise (GSE), government insuring agency, and investor requirements for in-house QC programs.
Our QC audit review platform supports a landscape of loan product types, including:
- Fannie Mae (FNMA)
- Freddie Mac (FHLMC)
- Federal Housing Administration (FHA) - including Home Equity Conversion Mortgages (HECM)
- United States Department of Agriculture (USDA)
- Veterans Affairs (VA)
- Federal Home Loan Bank (FHLB)
- Second mortgages (closed-end and HELOCs)Portfolio loan products including reverse mortgages
- Non-QM
- Reverse mortgages
Going beyond boundaries with our services including:
- Pre-funding QC audits and internal setup
- Post closing QC audits
- Discretionary/Targeted QC audits
- Early payment default (EPD) audits
- Fraud reviews
- Customized QC plans
- Pre-funding and post-funding QC gap analysis and consulting
- Due diligence audits
- Adverse action reviews
- Federal regulatory compliance reviews
- State regulatory compliance reviews
Regulatory compliance for mortgage lenders
Managing mortgage lending, servicing and financial services risk requires daily attention and a unified compliance platform. Baker Tilly’s regulatory compliance review assesses:
- Programs, policies, training, monitoring, reporting, corrective action
- Operational controls
- Policies, procedures, quality control, board oversight
- Technology management
- Network security, external threat assessment, access to consumer information
- Preparation and assessment practices from across the industry
- Multistate audit preparation/response
- Mortgage Electronic Registry System (MERS) annual review
- Internal audit
- Bank Secrecy Act/anti-money laundering (BSA/AML) audits
- Customized policy and procedure review
- Federal and state compliance support
- Compliance reviews with an emphasis on various regulations including, Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA) TILA-RESPA integrated disclosures (TRID), Equal Credit Opportunity Act (ECOA), Home Mortgage Disclosure Act (HMDA), privacy, etc.
- Fair lending analysis
- Hourly compliance consulting support
Compliance audit preparation services
Being ready for regulatory audits is essential. Baker Tilly can assist by using Fannie Mae's comprehensive audit recommendations as a basis, while tailoring the audit to meet specific regulatory requirements. Our mortgage compliance team examines all departments within your operations for any compliance gaps.
Servicing gap analysis
Servicing gap analysis
Ensure compliance with Government-Sponsored Enterprises (GSEs), the Department of Housing and Urban Development (HUD), the Consumer Financial Protection Bureau (CFPB), servicer policies and procedures and internal operations by identifying any risks or gaps within your organization. We do this by reviewing:
- Policies and procedures
- Customer service operations
- Call center operations
- Complaint and escalation management
- Customer call quality control process
- Error resolution management
- Letter administration
- Loan level verification and/or documentation
- Adjustable-rate mortgage (ARM) maintenance
- Escrow management
- Cash management
- Default servicing: collections, loss mitigation, bankruptcy and foreclosure management
- Investor reporting operations
Servicing quality control
Our Servicing QC audit review platform includes:
- General servicing audits (FHA, VA, USDA, FNMA, FHLMC and non-QM, default audit functions)
- Collections
- Loss mitigation
- Foreclosure
- Bankruptcy
- Claims
- Default reporting and servicing analysis
Subservicer oversight
Leave subservicer oversight to Baker Tilly. The FHA and Consumer Financial Protection Bureau (CFPB) require servicers to monitor subservicers for compliance with guidelines from seller and servicer guides, mortgagee handbooks and CFPB regulations. Baker Tilly’s mortgage team can support your organization through quarterly, semiannually or annual reviews to ensure data accuracy and identify improvement areas. Our mortgage compliance team will:
- Assess lender’s subservicer oversight policies and procedures
- Provide a comprehensive servicing QC report with recommended practices and noted deficiencies
- Perform loan level servicing QC on servicing activities performed by the subservicer or the servicer
Mortgage Electronic Registry System (MERS) annual review
Create a custom MERS compliance review
Ready for personalized MERS compliance? Baker Tilly’s mortgage compliance team reviews your policies, procedures, controls and practices to ensure compliance with MERS membership agreement requirements.
