May 31, 2013 - 9:04am
#1
I am currently performing an audit of mortgage originations and part of my sample included rejected FHA mortgage applications. FHA Quality Control states that rejected mortgage applications need the concurrence of a senior staff person of the company or a committee chaired by a senior staff person. How does your credit union handle the concurrence part? Do you require the initials/signature of the concurring person in the loan file or do you rely on concurrence being standard on each loan?
