Don’t want to run afoul of Fannie Mae’s Change Management compliance guidelines? Here are five things you need to know:
Stay Organized The first step to ensuring compliance is to stay organized. Keep track of all the changes you make, including the date of the change, who made the change, and why it was made. This will help you keep track of all the changes you’ve made and ensure that you can provide documentation if needed.
Have a Plan It’s essential to have a plan in place to manage change. Make sure you have a change management plan that outlines the process for making changes, including who needs to be involved, what documentation is required, and how changes will be communicated to stakeholders.
Train Your Staff Make sure your staff is trained on the change management process. They should understand the importance of managing change and the role they play in ensuring Fannie Mae compliance.
Monitor your Compliance It’s important to monitor your change management compliance regularly. Conduct regular audits to ensure that your organization is meeting Fannie Mae Seller-Servicer Change Management (and other) requirements. Use this as an opportunity to identify any areas where you may be falling short and take steps to address them. We recommend reading through Fannie Mae’s Seller/servicer Risk Self-Assessment document.
Partner With Experts The easiest way to ensure compliance is to partner with one of our consultants to perform an annual review of your business. As part of our standard internal audit services, our team can help you ensure compliance with a variety of regulatory requirements, including Change Management, so you can focus on running your business.
Still need help? Get in touch and we would be glad to discuss your needs.