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There are three primary compliance issues that financial institutions holding mortgage servicing rights must consider: GAAP accounting, investor requirements, and regulatory requirements. In today’s economy, these issues have been impacted by the significant challenges in the mortgage markets. That is why it is important to understand the risks of new requirements for fair value accounting under FAS 156 as well as what investors and regulators are expecting from mortgage servicing portfolios. Significant amounts of income could be at risk if you don’t get it right.

In this auditing mortgage servicing rights audio conference, we will discuss the following important topics:

• Evaluating the benefits and risks related to retaining mortgage servicing rights
• Understanding current mortgage servicing accounting issues including recent mortgage banking accounting updates under FAS 156, 157 and 159 and SAB 109
• Complying with Fannie Mae, Freddie Mac, Ginnie Mae, and Private Investor requirements
• Complying with the 2003 Inter-Agency Advisory on Mortgage Banking
• Conducting substantive audit tests for mortgage servicing rights
• And much more!

Registration Includes:

• Admittance to the 90-minute call for as many people as you can fit in a room with a speakerphone
• Access to the specially created presentation handouts (made available 48 hours in advance) which can be printed and used to train your personnel
• Participation in a 30-minute live Q&A with the speaker following the presentation
• Certificates of completion for all audio conference attendees

About Our Speaker

Gary M. Deutsch, CPA MBA CMA CBA CIA has worked extensively with financial institutions in audit, lending, financial, and operational areas. He has served in senior positions for regional banks as VP of Finance, Real Estate Loan Officer and Senior Audit Manager. Mr. Deutsch served as a consultant to financial institutions in strategic planning, profit improvement, financial management, and merger- and acquisition-related studies while working at KPMG. He was the CFO at a start-up bank, where he organized the accounting, finance, and investment functions to manage significant growth.

Mr. Deutsch is the President of BRT Publications LLC. His published works include ALM Management Manual, Loan Procedures Manual, Practices and Procedures for Financial Institution Risk Management, Bank Controller’s Manual, Internal Audit Procedures Handbook, and Risk-Based Audit for Financial Institutions.

For permission to photocopy or use material electronically from A. S. Pratt publications you can visit the Copyright Clearance Center, Inc. online with your requests.

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