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Volume 25 - Number 19

September 15, 2014

OIG Auditing CFPB’s Contract Management, Hiring Processes

The CFPBís Office of Inspector General has a handful of ongoing reviews and audits underway with a projected fourth-quarter completion date, most notably audits of the bureauís contract management and hiring processes. The OIG said its audit of the CFPBís contract management process is a follow-up to the evaluation of the bureauís contract solicitation and selection process. The OIGís focus this time around will include the CFPBís compliance with applicable rules established by whatís known as the Federal Acquisition Regulation, and the effectiveness of the bureauís internal controls related to contract management. On a related note, the OIG is also evaluating the bureauís hiring process, including its administration of recruitment and selection incentives to recruit new employees. This review was ...

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

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