Loan Servicing Management and Oversight

This review can target a number of areas including but not limited to

•  Interest Income Budgeting
•  Proper Controls
• Reporting and Proper Report Management. 

Interest income is the largest source of revenue for many institutions, yet many institutions don’t have the proper controls in place to ensure their loans are operating correctly.  When systems or loan products are not properly setup they do not operate correctly. In addition to creating a potential audit or exam Finding a common outcome  is the loss of revenue. Leaking Interest Income is common results from a bad setting in a Loan Servicing system. 

When it comes to overseeing a Loan Servicing area, nothing is more critical than reporting and report management. With a strong reporting program, you reduce the odds of an audit or exam identifying a deficiency or reporting a Finding. It will also ensure that past Findings do not repeat.

 This consultation will review your current Servicing reports,  identify and recommend additional reports as deemed appropriate. The report program will  include daily, weekly, monthly, quarterly, and annual reports.

The end result will be a a list of reports that will allow your servicing manager to monitor all the activities of the department. This consultation will also include a session with your servicing manager where we train them on each report, its purpose, and how to review and test the data to ensure the activity is being done correctly.

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