Mortgage

The Internal Audit Insight: Fannie Mae MORA & Approval Process Requirements

Fannie Mae approved lenders and applicants are required to demonstrate their commitment to managing risk effectively. To ensure lenders are meeting these requirements, Fannie Mae performs Mortgage Origination Risk Assessments (MORA). During the MORA process, Fannie Mae examines the most recent risk assessment, including the internal audit plan and the latest independent internal audit over the quality control (QC) function. Meeting Fannie Mae’s internal audit requirements is crucial for sellers/servicers to maintain eligibility and to identify and resolve gaps in compliance quickly.  

In the video below, internal audit experts Mignonne Davis and Cassidy Timm dive into the details of what Fannie Mae looks for during their approval process and when performing a MORA, and common findings.  

Each month, Richey May’s compliance experts dive into all your most frequently asked questions around internal audits. Stay tuned for the next episode where they dive into resources Fannie Mae offers that you may not know about.  

Miss the first episode? Watch it now!