Mortgage Compliance Checklist For Operations

The Mortgage Operations Health Check is a straight forward, factual assessment of regulatory and operational risk. Created for mortgage brokers and lenders, the Health Check is an essential self audit tool that can be used by managers and quality control staff to assess and track compliance with federal regulation and key operations.

Mortgage Operations Health Check One Sheet PDF Download
This valuable measuring and monitoring tool allows management to:
  • Assess corporate level compliance in the form of a checklist without impacting the loan process
  • View mortgage regulatory requirements as a list, including detailed nuances of regulations, and ‘check off’ regulations that are under control and track those that need implementation or improvement.
  • Identify procedural steps that assist in maintaining compliance
  • Stay up to date on federal compliance requirements as the Health Check is automatically updated when laws are changed
  • Develop a compliance checklist for each branch location

The Mortgage Operations Health Check consists of over 100 questions and reference points with carefully designed criteria statements programmed to calculate your operational risks by percentages, broken down and grouped into the following categories:
  • Loan Origination System and Application Review
  • Locking Rates and Processing
  • Management Reporting
  • ECOA
  • TILA
  • Patriot Act
  • Gramm Leach Bliley Act
  • HMDA
  • Fair Lending
  • ESign/EDisclosure
  • Do Not Call
  • Ant-Money Laundering
  • Mortgage Acts and Practices-Advertising
  • Appraiser Independence
  • And more…

The goal of the assessment is to isolate and clearly identify which of these risks may apply to your company:
  • Federal Regulation
  • Federal Regulation with Fine/Penalty
  • Negative Effect on HMDA or NMLS Reporting
  • Legal Risk
  • Financial Risk
  • Interest Rate Risk
  • Compliance Risk
  • Inaccurate Accounting
  • Inaccurate Internal Reports
  • Processing, Underwriting or Closing Delays

Easy to Use

The Health Check is an easy to use web-based self-audit tool used to access and track compliance with federal regulation and key operations. The detail is in the content we provide. Simply read the question and the pop-up explanation, then answer “Yes” or “No”. Honest answers reveal honest results showing the areas where risks may occur related to the topic.

The Required Notices section is a great example of how the Health Check serves as a resource for understanding compliance risk in procedures versus items that are an actual regulatory violation. HC_RequiredNoticesScreenShot

HC_Q4-3Pop-up“The detail is incredible! This has saved me a lot of time by summarizing the rules. I can show the board and the auditors exactly what we have checked.”

Subscription Information

The Health Check Portal provides access to the Health Check tool, free resources such as the new QM Points and Fees calculator, MAP Tip Sheet; AML Tip Sheet; GFE Fee Map and others created exclusively by Indecomm – Mortgage U. Subscribers receive notification when questions are added or updated either by regulation changes or suggestions from the Health Check community.

For more information and to schedule your health check demonstration contact Indecomm – Mortgage U at 800-278-0200 ext 206 or by email at