This message was posted by a user wishing to remain anonymous
Hi everyone 😊
We're evaluating whether Title Companies and Appraisers should be included in our vendor management program, and I'd appreciate hearing how other banks are handling this.
A few questions for the group:
- Are you adding Title Companies and Appraisers to your vendor list and performing full initial and ongoing due diligence?
- If so, have you encountered any roadblocks or resistance from the title companies or appraisers when requesting due diligence documentation?
- If you are not including these entities in your TPRM program, how are you documenting this decision for audit or examination purposes?
- What is your reasoning for classifying them as outside the scope of vendor oversight?
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