Due Diligence and Ongoing Monitoring

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  • 1.  Investor Relationships and Secondary Market Loan Sales

    Posted 10-15-2020 12:55 PM
    How do you handle Investor relationships and secondary market loan sales? Is this in scope for you or out of scope? If it is in scope what documents do you ask for?


  • 2.  RE: Investor Relationships and Secondary Market Loan Sales

    Posted 10-19-2020 09:59 AM
    Entities that put money into an organization are not vendors, they are investors.  If anything, an investors want to vet the organization they are investing in. So investors are out of scope.  IMHO. How are others handling this?
    Original Message


  • 3.  RE: Investor Relationships and Secondary Market Loan Sales

    Posted 10-19-2020 10:49 AM
    Agreed.  Investor relationships and secondary market loan purchases/sales are out of scope of our program; however, there are instances where we purchase loans and the sellers retain servicing rights.  If this is the case, the purchase of the loans remain out of scope; however, as the seller will now be servicing the loans on our behalf, we'll put them through a full review.
    Original Message


  • 4.  RE: Investor Relationships and Secondary Market Loan Sales

    Posted 10-19-2020 01:18 PM

    THE Allen Carr?  As I live and breathe!  Hello friend!

     

     

    Sheila Crossley
    Legal/Compliance Specialist IV
    Numerica Credit Union
    Life Moves. Live Well.™

     

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    Original Message