Risk Management of Non-Traditional Mortgage Loan Products Policy
This Risk Management of Non-Tradition Mortgage Loan Products Policy ensures a bank, credit union, fintech company, or other type of financial institution maintains sound risk management practices with respect to non-traditional mortgage loan products.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Risk Management – Topic 3
- Loan Terms and Underwriting Standards – Topic 4
- Audit Policy – Topic 5
- Staff Training – Topic 6
- Retention of Documentation – Topic 7
Recent updates to this product:
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 policy template (approximately 18 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
NOTE: The complete contents of this template are also included in the Mortgage Loan Policy Template.
Product Update Protection Plan
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