Real estate loans audit

Hi,

What is your audit program for real estate loans? Do you perform one annual audit or perhaps have separate audits that cover specific areas or regulations, etc.? Does your audit include in house and sold loans?

We have a mortgage consultant in and he is suggesting that our mortgage audit be separated into smaller audits. For example, HMDA, Seller Servicing, Underwriting. I am wondering if any other credit unions do this. Would you be willing to share your audit plans and or/workpapers?

Thank you!