Mortgage Loan Policy
This Mortgage Loan Policy addresses consumer mortgage loan products, underwriting, and related lending operations of a bank, credit union, fintech company, or other type of financial institution to provide a foundation of safe and sound credit decisions and adherence to all applicable laws, rules, and regulations.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Program Overview – Topic 4
- Risk Management – Topic 5
- Responsibility – Topic 6
- Product Definition – Topic 7
- Loan Production and Operations – Topic 8
- Secondary Marketing – Topic 9
- Mortgage Pricing – Topic 10
- Pipeline and Warehouse Management – Topic 11
- Hedging – Topic 12
- Loan Documentation and Delivery – Topic 13
- Repurchases and Recourse – Topic 14
- Servicing – Topic 15
- Mortgage Servicing Assets – Topic 16
- Accounting Requirements – Topic 17
- Risk Management of Home Equity Lending – Topic 18
- Risk Management of Mortgage Fraud – Topic 19
- Risk Management of Non-Tradition Mortgage Products – Topic 20
- Risk Management of Sub-Prime Mortgage Lending – Topic 21
- Risk Management of Foreclosure – Topic 22
- AVM Quality Control Standards for Mortgage Originators and Secondary Market Issuers – Topic 23
- Audit Policy – Topic 24
- Staff Training – Topic 25
- Retention of Documentation – Topic 26
Recent updates to this product:
07/15/24 Update
Joint Release – Quality Control Standards for Automated Valuation Models
03/18/24 Update
Eliminate and/or modify references to the term “Troubled Debt Restructuring” (TDR) with a “Borrower Experiencing Financial Difficulty.”
06/01/23 Update
Eliminate references to allowance for lease and loan losses (ALLL) which was replaced by current expected credit losses (CECL).
This Mortgage Loan Policy (approximately 164 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Product Update Protection Plan
Ensure your purchase from BankPolicies.com remains current by adding a Product Update Protection Plan to your shopping cart. You’ll automatically receive an updated version via e-mail every time it’s revised, within one year from the last date of purchase.
