Skip to main content Skip to Footer

CLIENT CASE STUDY


Top-10 US mortgage lender: Mortgage lending regulatory compliance

Developing standardized process and procedure documentation for mortgage operations to comply with a Federal Consent Order.

Overview

This top-10 US mortgage lender originates and services mortgage loans for customers throughout the United States. With nearly 5,000 mortgage specialists, the company had more than US$20 billion in production.

The Federal Reserve Board issued a Federal Consent Order to the bank highlighting Matters Requiring Attention, one of which was a lack of standardized process and procedure documentation in its mortgage operations.

The bank sought to become compliant with the Federal Consent Order. They decided to team with Accenture based on Accenture’s deep knowledge of the industry and, more specifically, the mortgager’s own operations and technology.

Accenture was able to help the mortgage lender comply with the Federal Consent Order by developing standardized process and procedure documentation for its mortgage operations.

Solution

Accenture began by performing an analysis of existing process and procedure documentation to identify gaps. Working with the bank’s subject matter experts (SMEs) and group managers, Accenture helped bring all existing documentation into a standardized format, and enhance and craft additional process and procedure documentation where necessary.

Accenture also helped the bank identify and document risks and controls associated with all processes, as well as key performance indicators (KPIs) and key risks indicators used by management to monitor the processes.

The following lines of business and groups were included in the scope of the project:

  • Retail mortgage origination

  • Broker/wholesale mortgage origination

  • Correspondent mortgage origination

  • Consumer direct mortgage origination

  • Mortgage origination quality control

  • Condo desk

  • CoreLogic report review

  • Process control

  • Consumer banking infrastructure support

  • Centralized withdrawn/denied/incomplete and Home Mortgage Disclosure Act reporting

Results

Accenture helped the bank’s mortgage lending operation:

  • Develop or update 130 process and procedure documents 

  • Identify and document more than 500 operational risks/controls that had not previously been documented or tracked at the executive level

  • Identify and document more than 300 key performance indicators and key risk indicators that had not previously been documented or tracked at the executive level

The bank is now in compliance with the Federal Consent Order and can manage the business and maintain operational integrity using standardized documentation.

In addition, the bank can apply their baseline processes and procedures, risks/controls, key performance indicators and key risk indicators to enhance its mortgage lending business and maintain better executive control over its crucial functions.

Industry & topics highlighted

Financial Services