Third-Party Management Oversight Policy
Subscriber Content
Procedures for Managing Third-Party Risk in the Mortgage Industry
This sample policy is designed to help mortgage companies manage a successful control framework to achieve compliance and adherence with applicable laws.
This policy applies to all third-party service providers and material vendor relationships, including any third-party that provides technology services and software, including loan origination or loan-servicing platforms, website providers, pricing, analytics, etc; develops, prepares, drafts or reviews disclosures or other loan documents; conducts or oversees property valuations, including appraisers and appraisal management companies; and legal firms providing foreclosure/bankruptcy legal services on behalf of the company.