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Our group voted on ORB as the winning horse.

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We have a secondary market area that offers government insured loans – with one being an FHA. These are then sold to an investor.

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We decided on Bodemeister. Glad to hear Amy will be modeling her outfit – then we will know whom to look for on Saturday (beside my son) — which will be like finding a needle in a haystack.

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We reviewed the policy and procedures and found the materials great. We did find a couple of ‘grammar’ type corrections needed. We like the format of the Risk Assessment and plan to implement for all policies. Currently, we attach a memo stating the reason why have the policy and any changes/revisions since last approval; however, we like this format and the inclusion of the Risk Assessment.

Procedures:
On page 3 under Control, first sentence. The first sentence has two ‘a’s’. Believe it should be ‘an’. Also, the word ‘sue’ should be ‘due’. [Insert appropriate party] reviews, on an [insert frequency] basis, a sample of new open-end loans to determine the percentage of the total amount of fees due at account opening, fees due …..

Page 3, under Control, last sentence. Place a comma after 25%.

Page 3, under Audit, second bullet. Remove one of the ‘periods’.

Policy: A period is needed at the end of the first paragraph.

Thanks.

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