Internal Control Questionnaires and Verification Procedures

Secondary Marketing — Policies and Procedures

1. Has the board of directors or its mortgage banking committee, consistent with its duties and responsibilities, adopted written mortgage banking policies governing secondary marketing activities that define:

   1. The secondary marketing programs used to sell mortgages?

   2. Permissible credit enhancements?

   3. The responsibilities of the secondary marketing department for sale and delivery of loans?

   4. Procedures for tracking and obtaining missing loan documents?

   5. Procedures for mortgage pricing?

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