State of Oregon Mortgage Division Audit - First Capital Group, Inc.

Summary:

After two and half years as a processor and loan officer, I was promoted to Compliance Manager. In this position, a major project was assigned to me.  I was tasked with preparing the office for it's first audit by the Oregon Division of Finance.  With little time in the position and only two weeks notice I had to prepare 4 years worth of paperwork into an organized presentation for the audit.  This process had never been completed previously in the history of the company, so there was a need for finding, organizing, doing internal audits and then setting up procedures for completing the project again in the future.

Details:

• Reviewed all company files to ensure compliance was met for State and Federal standards.
• Set up a “Dummy File” for use by staff that met compliance standards for state and federal regulations.
• Organized staff and all loan officers to assist in performing internal audit of files.
• Held after hours “Compliance Parties” to entice staff to stay late and audit files.
• Reviewed all company files to ensure that procedures and records were being kept in accordance with state regulations.
• Completed all records in regards to staff, loan officers, licensing requirements and employment practices to comply with state standards.

Achievements:

• First Capital Group, Inc. successfully passed the Audit from the Oregon Division of Finance.
• No fines were issued.
• No Major violations were found.
• The audit was also completed in less than 6 hours.  Some audits were known to take several days. As a mortgage broker in the state of Oregon, you are responsible for paying an hourly rate for the auditor. Having it completed in 6 hours represented a significant cost savings for the company.