Mortgage underwriting: Does management monitor the nature and frequency of exceptions to its standards?

The risk management approach determines the processes, techniques, tools, and team roles and responsibilities for a specific project, to stay on top of its data in real time, organizations must be proficient in exception management and root-cause diagnostics to close process gaps. Equally important, in its oversight capacity, the board is expected to monitor management and ensure that it is acting diligently in the interests of shareholders.

Mortgage underwriting is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss, management must effectively identify, measure, monitor, and control the legal risks inherent in the trust business.

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