Due Diligence and Ongoing Monitoring

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Mortgage company describes themselves as an investor and not a critical vendor.

  • 1.  Mortgage company describes themselves as an investor and not a critical vendor.

    This message was posted by a user wishing to remain anonymous
    Posted 2 hours ago
    This message was posted by a user wishing to remain anonymous

    I have recently been asked to vet out a Mortgage broker for the secondary market. When I asked for their due diligence documents, they replied with a certification document and financials. They told us they do not provide SOC reports because they are an investor and not required to share their SOC reports. 

    Has anyone encountered this from a vendor, and if so, how did you vet them out, and what comments did you get from examiners?

    Thanks for your input.