Safe Act Compliance Audits
One of the more recent independent compliance review requirements is from the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, commonly referred to as the SAFE Act. The SAFE Act requires that covered financial institutions conduct annual independent compliance tests to ensure compliance with the regulation. This applies to all credit unios that make real estate loans including first mortgages, second mortgages, home equity loans, reverse mortgages construction loans, land loans and anyother type of loan secured by reasl estate.
At Ewart & Associates, we have comprehensive audit procedures and programs to help keep credit unions compliant with the audit requirement. Our team is ready to assist your credit union meet it's regualtory requirements.
Contact us today to schedule your compliance audit.