Monitoring Unit April 2018 Alberto Planas Assistant Director Oversight Operational Audit Selection Criteria PreAudit Work by Auditors Quality Control QC SARSUnderwriters Declined Loans and Noncompliant files ID: 690764
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Veterans Benefits Administration
Monitoring Unit
April 2018
Alberto Planas, Assistant Director OversightSlide2
Operational Audit
Selection Criteria
Pre-Audit
Work by Auditors
Quality Control (QC)
SARS/UnderwritersDeclined Loans and Non-compliant filesMarketing MaterialsWorkload/Training/Branch Offices/etc
.
2Slide3
Audit Timeline
Initial
Contact – 45-calendar days prior to site visitAuditors review pre-audit documentation
Administrative Contact – 7-calendar days prior to visit via emailRequested Documentation Due – within 3-calendar days of email
Site Visit (Monday-Wednesday Typically)
Documents/Comments/Response Due – 7-calendar days from exit briefingSlide4
Most Common Findings for FY17 & 18
Quality Control (QC) Violations – 67Egregious Loans – 60 (unapproved underwriter)LAPP Quality Control Violations – 20No Finding Reports - 26Slide5
Quality Control Violations
ABC was not meeting the requirements found in VBA Lender’s Handbook 26-7, Chapter 1, Topic 15i, Elements of a QC Plan – Funding Fees PaidABC was not meeting the requirements found in the VA Lender’s Handbook, Chapter 1, Topic 15f, Elements of a QC Plan – Deficiencies Reported to VA.
ABC was not meeting the requirements found in the VA Lender’s Handbook, Chapter 1, Topic 15l, Elements of a QC Plan – Review of Loans.Slide6
LAPP Quality Control
ABC was not meeting the requirements found in the VA Lender’s Handbook, Chapter 15, Topic 15.02b, - Lender QC System Requirements and Topic 15.07 - LAPP Processing Procedures.ABC was not meeting the requirements found in the VA Lender’s Handbook, Chapter 12, Topic 12.08 - Minimum Property Requirements.Slide7
Where to Find Help
The VA Lender’s Handbook:Chapter 1, Topic 15 – Elements of a QC PlanChapter 15 – Lender Appraisal Processing ProgramSlide8
Current Topics
Unapproved UnderwritersM26-7, Chapter 1, Topic 6a Emerging Bankers/Mini CorrespondentsM26-7, Chapter 1, Topic 7Slide9Slide10
Thank You!!!
Thank you for helping us provide this important benefit to
our
Nation’s
Veterans!!!