We assess law firms annually based on risk using the volume of records and the annual spend from the previous year.
Yes, Law Firms should be assessed. We have several Default Law firms, and our investors, FNMA and FHLMC, have clear directions in their servicing guide on firm management that we have used as a guideline. ------------------------------ Rachel ...
There was another post on this back in 2021 with no feedback, so I'm hoping this can get some traction. We have a CDC that we use for SBA loan packaging. Over the past few years, it's been a struggle to get their due diligence and what we ...
Hello - I'm wondering if anyone has rules around required documents being tardy and having to keep asking for? Do you wait 1-week, 2 weeks any penalties? How do you escalate?
It's a risk-based decision for us. The easiest and most common categories that are out of scope are memberships, dues, sponsorships, conferences, professional associations. Our exempt providers are on a case-by-case basis, whereas the out-of-scope ...
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