Due Diligence EDFS Conference 2011. Perfection..... Perfection is attained in slow degrees;...
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Transcript of Due Diligence EDFS Conference 2011. Perfection..... Perfection is attained in slow degrees;...
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Due Diligence
EDFS Conference2011
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Perfection. . . . .
Perfection is attained in slow degrees;
it requires the hand of time. Voltaire
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The D’s of Due Diligence & Accountability
Develop - Procedures Discipline - Training Disclosure – Inquiries to
Applicants to borrowers Documentation - Closing Detail – Compliance Due Diligence - Collections
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DEVELOP - Procedures
Designed by staff User friendly Available Updated
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DISCIPLINE - Training
Current Staff New Staff Support Staff Supervisors Loan Committee Solicitor
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Keep the wheels turning!
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DISCLOSURE –From Applicant to Borrower Disclose Disclose again One more time, for the record!Fact Sheet, Interview, Summary
loan application, Assurances,
etc., etc., etc.
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DOCUMENTATION - Closing
Documentation Instruction letters Your Solicitor The Borrower’s Attorney Cost What works for you?
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DETAIL - Compliance
Document Verify Follow up
MonthlyQuarterlyAnnual
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DUE DILIGENCE
Servicing A C H Collections
15 – 30 – 45 – 60
Work Out Options?
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DILIGENCE - Collections
“What we hope ever to do with ease,
we must learn first to do with diligence.”
Samuel Johnson
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GOOD LUCK!
“Diligence is the mother of good luck.”
Benjamin Franklin