Mortgage servicing examination procedures

Summary

After completing the risk assessment and examination scoping, examiners should use these procedures, in conjunction with the compliance management system review procedures, to conduct a mortgage servicing examination. 

The examination procedures contain a series of modules, grouping similar requirements together. Depending on the scope, each examination will cover one or more of the following modules:

Routine Servicing 

• Module 1 Servicing Transfers, Loan Ownership Transfers, and Escrow Disclosures
  
• Module 2 Payment Processing and Account Maintenance
  
• Module 3 Consumer Inquiries, Complaints, and Error Resolution Procedures
  
• Module 4 Maintenance of Escrow Accounts and Insurance Products
  
• Module 5 Credit Reporting
  
• Module 6 Information Sharing and Privacy 
  

Default Servicing

• Module 7 Collections and Accounts in Bankruptcy
  
• Module 8 Loss Mitigation, Early Intervention, and Continuity of Contact 
  

Foreclosure

• Module 9 Foreclosures
  

Conclusions

• Module 10 Examiner Conclusions and Wrap-Up