Due Diligence and Ongoing Monitoring

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Welcome to the Due Diligence and Ongoing Monitoring Community. Here you will be able to network, collaborate, and see the latest discussions that can help you in this area. Note: You will need to Sign In to join in the discussions and access resources. 

About Due Diligence and Ongoing Monitoring: Whether you’re vetting a new vendor or following up on an existing vendor, performing due diligence is necessary to determine if a vendor is a good fit for your organization. Ongoing monitoring is a regulatory expectation, an overall sound business practice and can lead to discovering risk that would have otherwise gone unnoticed.

Latest Discussion Posts

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    Auto loan refinance vendors

    By: Tara Murray , 4 days ago

    Good afternoon, I am trying to gain some insight into what Tier other Credit Unions have their auto refinance vendors placed at and why. We seem to have a difference of opinion whether they should be a Tier 2 GLBA or a Tier 6 Moderate, only reviewing ... More

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    Freddie Mac

    By: Anonymous Member , 4 days ago

    This message was posted by a user wishing to remain anonymous Our bank sells originated mortgages to Freddie Mac. Freddie Mac has provided vendor due diligence documents since our Vendor Management program started. We recently received an email from ... More

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    RE: Law Firms

    By: Vickie McGregor , 12 days ago

    We assess law firms annually based on risk using the volume of records and the annual spend from the previous year. More

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    RE: Law Firms

    By: Rachel Kenyon , 12 days ago

    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 Kenyon ... More

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    SBA- CDCs used for SBA loan packaging -how do you manage these?

    By: Laure Slezak , 13 days ago

    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 do get shows ... More

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