Policy
and Procedure Manuals
Why does our company need a policy
and procedure manual?
The years 2010 and 2011 brought changes to appraisal guidelines,
pre-closing and post-closing quality control and a host of federal acts
that everyone must comply with. Without a current operations, servicing or
quality control plan your firm risks not qualifying for investor,
warehouse or agency approvals.
Most investors and all agencies require written procedures
and policies related to the orgination through insuring phase
of a loan request for companies who are involved in loan origination,
retail or wholesale, and servicing procedures for companies who service
closed loans.
OUR GUARANTEE: We will modify your manual free of charge if agency
guidelines change or your investor/agency requires additional information
for up to six months from date of purchase.
We will gladly add your company's policies and procedures to your
new manual free of charge in most cases.
We will work with your staff to provide you with the best manual in the industry.
WE KNOW OUR MANUALS ARE THE BEST and that is why we provide
a table of contents for your review.
WAIT! If you have a manual you love, but want to add new
guidelines, information or requirements, we can provide you with chapter-specific
guidelines for a minimal fee of $150 per chapter. We will be happy to supply you
with a table of contents so you can pick and chose the chapters you wish to purchase.
We can integrate the information with your current guidelines for a negotiated low
rate if you are not purchasing an entire manual or plan.
The guidelines most commonly asked for are:
FRAUD PREVENTION - PRE-CLOSING usually added to your operations manual or QC Plan
APPRAISAL - New guidelines since the termination of HVCC including GSE data upload
requirements - usually added to your operations manual
COMPLIANCE - RESPA - DODD-FRANK Fair Housing / Fair Lending - ECOA, SAFE / NMLS -
usually added to your QC Plan
INVESTOR REPORTING - Servicing requirements including Fannie-Mae's new requirements
for SURF, HSSN, Ginnie-Mae and Freddie-Mac reporting requirements as well.
HOW YOUR MANUAL WILL ARRIVE:
Your policy and procedure manual will arrive in draft form via e-mail
allowing senior management to review. The initial draft come to you in Word (97)
and the final version will be produced in PDF and Word so you can continue adding
your company's internal policies and procedures in the future.
Your logo, company name and unique company guidelines can be added to the
Standard Policy and Procedure Manual, usually at no cost to your company.
NOTE: DUE TO THE VERY RECENT CHANGES TO GUIDELINES,
REGULATIONS, APPRAISAL STANDARDS AND COMPLIANCE ISSUES, OUR MANUALS ARE BEING BROUGHT
CURRENT, AND THEN BEING RELOADED TO OUR SYSTEM.
IF YOUR MANUAL DOESN'T LOAD, YOU WILL HEAR FROM US
WITHIN 24 HOURS SINCE WE RECEIVE NOTIFICATION OF PAYMENT AND THE MANUAL YOU ARE
PURCHASING.
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QC
Plan
Clicking "Buy Now" on this
item will take you to our qc plan page |
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Standard
Operations (P&P) manual: $1,350.00
This manual includes all phases of loan activity from origination of
all loan types of residential first mortgages including conventional,
FHA and VA loans through the endorsement phase. This includes:
Disclosures and compliance issues (RESPA, TILA, HMDA, ECOA, Fair Housing,
FACT-ACT, program disclosures)
Opening, processing, lock-in underwriting, drawing loan documents,
funding, insuring loans
SAFE Act requirements
FHFA Appraisal Independence Requirements (formerly HVCC)
Fraud prevention policies
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Servicing
Procedures: $1,350.00
This manual includes all phases of loans servicing activity from when the loan
is boarded and transmitted to the loan servicer until the transaction terminates.
This manual is up-to-date and includes the new regulations including:
Compliance with RESPA, Fair Debt Collection Practices, ECOA, Fair Housing, FACT-ACT,
Ginnie-Mae (GNMA), Fannie-Mae (FNMA), Freddie-Mac (FHLMC) reporting and agency claim
requirements, requirements for compliance with DODD-FRANK ACT, Emergency Economic Stabilization Act,
Home Affordable Modification Program (HAMP), HOPE (HUD's Homeownership program) and Home Affordable Foreclosure
Alternatives (HAFA)
We will gladly provide you with a table of contents for your review. Contact us for more information.
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MONITORING AND RISK MANAGEMENT
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Monitoring
Your Sub-Servicer: $150.00
If you are releasing loans you are going to sell to FHLMC or FNMA and have another
firm service them, they will require that you monitor the quality, integrity and
activities performed by your services.
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Risk
Management Manual: $1,650.00
If you are a large retail shop with multiple branches or you accept
correspondent and/or broker business this is a must have manual
providing senior management with all the tools needed to identify
high risk situations and eliminate them. All investors, warehouse banks
and agencies require quality loans and portfolios that perform equal
or better than other companies selling loans to them.
This manual includes:
How to create a tracking system in units and percentage format
How to make Neighborhood Watch numbers work for you
Selective audit choices
Common threads to identify patterns
Creating an internal watch list and exclusionary list
Monitoring your closed loans for early payment default
Identifying high risk product
Training for senior management on how to accumulate the information,
stratify it and how you can benefit from tracking and monitoring
your company's portfolio is available for an additional fee.
Contact our main office at (760) 200-3402.
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SPECIAL PRODUCT MANUALS
Special product manuals are NOT mandatory. The purpose
of these manuals is to assist staffing in obtaining and
preparing proper documentation for a specialized product.
It also allows your company to establish a policy and/or
procedure for a specialty product.
Sub-prime Lending: $1,250.00
This manual includes basic documentation, procedures for
investor underwriting through loan closing of the sub-prime
loan. You can substitute your Standard Operations (P&P)
with this manual if your main product is sub-prime lending.
Or, if you offer conventional, government and sub-prime
loans, you can add this as an internal manual for this
type of loan product.
Rehabilitation loans: $1,250.00
If your company plans on offering 203(k) loans, FNMA rehabilitation
loans then this manual is for you. It includes special
rules for a holdback account, cost breakdown, construction
documents related to the loan programs, funding, escrow
accounts and other pertinent guidelines.
Second Mortgages: $750.00
If your company is or will offer second mortgages, the
special procedures for second mortgages are covered in
the second mortgage P&P.
CUSTOMIZED MANUALS
Let Donnashi Enterprises, Inc. customize your current
P&P. We will incorporate your company’s current
policy and procedures, memos adding or changing procedures
and prepare an in-depth manual for your firm. We can keep
with your company’s format or provide you with many
different formats for you to choose from.
Customized manuals usually
cost between $2,500 and $5,000.
Donnashi Enterprises, Inc.’s owner Donna Beinfeld
has been producing lending manuals and courses for the
mortgage industry since 1984. Almost every bank, mortgage
insurance company and/or agency has called on Donna Beinfeld
to create, modify or customize manuals for their firm.
Who Donnashi Enterprises, Inc.//Donna Beinfeld has created
manuals for:
Jackson Federal Bank, Domestic Bank, PRMG, Cal-Coast Credit Union,
PMC Bancorp., and Franklin Financial to name a few.
Note: DONNASHI ENTERPRISES, INC. does NOT encourage
you to purchase additional products. If your firm only
needs one type of a manual, we would prefer you obtain
only the manuals you need. If in doubt, call our office.
We will do everything we can to assist your company as
you choose to add more services or products.
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