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Over the last several years, vendor oversight and management have been top-of-mind among the mortgage industry’s regulatory bodies. While focus is no longer on the risk
that vendors present to the well-being of a supervised financial institution, the Accounting Standards professionals
have increased the focus of all firms with certified financial
statements on considering the impact of critical vendors on
financial statements and operations through the publication of SSAE 18. It’s no longer a requirement to just make
certain that critical vendors have satisfactory SOC 1 or 2
reports, but those reports now must include the vendor’s
THE MOST READ ARTICLE
JULY 2017 ISSUE
For writing the most read article
in the July 2017 Issue of
Mortgage Compliance Magazine.
EFFECTIVE VENDOR MANAGEMENT
IS THE BEST FORM OF RISK
Regina M. Lowrie is a recognized
national leader and authority in the
mortgage and lending industry
and is founder, president, and
CEO of RML Advisors, LLC. She
can be reached at RLowrie@RMLAdvisors.com.
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www.MortgageComplianceMagazine.Com and click on Articles and look in the Compliance Tab.