Mini-Correspondents

Applicable federal, state and local legal and regulatory requirements (i.e., including statutes, rules, regulations and ordinances)
Applicable requirements and guidelines of each governmental and quasi-governmental agency, board, commission, instrumentality and other governmental body or office having jurisdiction
Applicable judicial and administrative judgments, orders, stipulations, awards, writs and injunctions
The reasonable and customary mortgage practices of prudent mini-correspondent mortgage banking, involving the origination of mortgage loans of the same type as the mortgage Loans in the jurisdictions in which the related mortgaged properties are located
The standards that mini-correspondents should employ and exercise in originating and administering mortgage loans (if applicable)
The development of the statutorily mandated requirement to maintain a CFPB compatible Compliance Management System
Policies, procedures, and requirements relating to mini-correspondent loan originations and applicable mortgage acts and practices

Non-Delegated Correspondents - Compliance Guidance

Creating a Culture of Compliance®