A top-10 bank required an annual audit of its adherence to regulatory requirements relating to the real estate lending process. Our team identified key regulatory risks related to the Real Estate Settlement Procedures Act (RESPA); Truth in Lending Act (TILA); Home Mortgage Disclosure Act (HMDA); Unfair, Deceptive, or Abusive Acts or Practices (UDAAP); and others. Through an assessment of internal controls, data analytics, and substantive audit procedures, Scott’s team was able to provide management with a comprehensive report surrounding their adherence to key requirements. Management was able to use this report to document and track remediation efforts, better align their process to regulatory requirements, and improve regulatory risk mitigation.

Note: This work was performed prior to joining Stout.