Warehouse lenders have quality control review and audit requirements that are unique to the risk associated with warehouse lending. Sampling and review are not related to loan production, which is why a traditional 10% sampling and audit are not relevant and do not reveal risk in this channel. Rather, a warehouse line wants to know if loans are being funded that match the overlays associated with that specific agreement.
Our experience in delivery, management and audit of warehouse lenders offers our warehouse lending clients a very targeted approach to move from individual file audit funding process to a spreadsheet funding process. This will help you transition from an operational process to a data driven process.
In audit, our primary focus is on:
- Discretionary Sampling
- Data Integrity
- Loan and Document Applicability
- Risk and Discrepancies
- Technology and Security