Subservicer Oversight Review Procedures

We’ve created a structured, comprehensive subservicer assessment framework that helps lenders fulfill regulatory obligations while transforming oversight requirements into valuable business intelligence that improves vendor relationships.

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Beyond Regulatory Requirements

CFPB and GSE guidelines establish clear accountability: lenders maintain responsibility for both outsourced servicing activities and adherence to all relevant operational regulations.

While proactive monitoring of subservicer performance is essential, most organizations lack the specialized resources needed to conduct these evaluations effectively and consistently.

Receiving consumer complaints?

Portfolio Analysis Produces Better Outcomes

Our detailed loan-level testing illuminates specific issues behind consumer complaints, particularly around sensitive areas like forced-place insurance. This granular examination reveals how your unique portfolio is being managed, often uncovering previously invisible patterns that transform vendor relationships.

Our oversight methodology delivers value extending well beyond compliance checkboxes, converting findings into strategic business improvements. Clients receive comprehensive documentation covering every regulatory dimension of their subservicer relationship through our thorough evaluation of policies, operations, portfolio management, and compliance testing.

By conducting these assessments for multiple lenders simultaneously, we create substantial economies of scale that directly benefit our clients through cost-effective service delivery.

Engagement Roadmap

    Analysis of critical servicing policies and operational procedures

    Two-day onsite evaluation interviewing essential personnel across servicing, compliance, training, audit, legal, vendor management and IT departments

      Customized loan sample testing examining 25 loans from each client’s specific portfolio, concentrating on default and escrow management with optional expanded testing areas

        Delivery of detailed written assessment documenting subservicer performance specific to the lender’s unique portfolio

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        What Our Clients Have to Say

        “We changed from OCC to FDIC last year, so this was our first full scope compliance exam by the FDIC and they decided to limit our scope in the servicing area because of your review. They mentioned it over and over and said it was great that you did this and covered all areas they would be concerned about, therefore we had no additional testing or review. This just happened before the holidays so we definitely want to ensure we do it again for the next audit cycle completion.”

        “I thought the audit was something that was good to have two years ago when we signed up. However, after just finishing with our second major scheduled audit in the past five months, this report proved to be more than just backup. It was instrumental in helping with a smooth review of subservicer oversight. I can’t thank Richey May enough for looking out for their clients.”

        To learn more about our subservicer oversight services, contact us below.

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