Mortgage Banking

Financial Services is a heavily regulated industry and SOX compliance plays a major role.  As such, an auditor or consultant needs to know and appreciate the host of regulators and regulations governing this industry.

Specifically, Mortgage Banking is a major industry segment within financial services.  To truly understand mortgage banking an individual needs to have been exposed to multiple business units and functions such as loan origination/production, warehouse lending, underwriting, secondary marketing, post-closing and servicing.  Our partners and many of our consultants and auditors have significant experience in a number of these functions.

Mortgage Compliance Services we provide include:

  • SOC 1 Examinations
  • SOC 2 Examinations
  • Gramm-Leach-Bliley Act Compliance Assessments
  • RESPA Compliance Assessments
  • FCRA Compliance Assessments
  • TILA (Reg Z) Compliance Assessments
  • BSA and AML Program Assessments
  • Internal Audit Outsourcing
  • Sarbanes-Oxley 404/302 Readiness and Compliance Services (SOX Compliance)
  • Servicing Compliance Assessments
  • Non-Performing Compliance and Default Loan Review
  • Pre-CFPB Compliance Audit Review

Charles T. Fagan, CPA, AMP is the partner in charge of this service line.  He is an Accredited Mortgage Professional (AMP), a designation that was earned in 2005 and awarded by the Mortgage Bankers Association.  He has worked with more than 12 mortgage banking and real estate finance firms over the years and held the Director of Enterprise Compliance at Fannie Mae, where he oversaw the monitoring of the organization’s compliance programs and efforts.  He has roughly eight years of experience working in and with participants in the mortgage banking industry.