Mortgage Banking

Mortgage Banking

As a nationally recognized leader in the mortgage industry, we provide specialized audit, tax and business advisory services and strive to add value to you and your organization. Our expertise comes from working with many of the best lenders throughout the country.

The mortgage banking industry is at the core of our business. Our expertise allows us to deliver valuable advice learned from the successes, challenges, mistakes and occasional failures of our clients. Our clients range in size from small local originators to large national lenders with multi-channel operations and large servicing portfolios.

We have established a solid reputation among the many financial institutions, warehouse banks, private equity firms and others involved in the industry. We maintain close relationships with regulatory agencies and industry experts and remain current on important tax and accounting issues, reporting requirements and regulations. We are an active member of the Mortgage Bankers Association of America and several state mortgage banking associations.

If you are looking to build a relationship with the most specialized team of experts in the mortgage industry, contact us today.

Industry Services

Richey May’s mortgage banking specialists can provide you with insight into your most complex challenges. In addition to traditional tax and audit services, our industry-specific offerings include:

Mergers & Acquisitions

Financial Advisory

Benchmarking & Data Analytics



Strategic Planning

Buyer and Seller-Side Due-Diligence Reviews

Our in-depth, objective due diligence methodology helps you validate the financial, operational and tax aspects of your transaction. We focus on identifying the risks and opportunities of your target in order to enhance your success.

Transaction Advisory Services and Representation

We can assist in identifying potential buyer or seller candidates and represent the buy- or sell- side throughout the process to ensure execution of a successful transaction.

Management Reporting and Financial Model Development

We work with our clients to develop meaningful financial reports and models, including key performance indicators (KPIs), operational and cash flow forecasts, budgets, and analysis of cost to originate a loan.

General Ledger Design and Mapping to MBFRF & MCR

Our data analytics team can map your general ledger to the Mortgage Banking Financial Reporting Form (MBFRF) or the NMLS Mortgage Call Report (MCR) to lessen the burden on your internal staff and to ensure that they are properly completed at each reporting period.

Mortgage Banking Accounting Best Practices Consulting

The experts at Richey May are well versed in the accounting for loans held for sale, mortgage servicing rights (MSRs), interest rate lock commitments and related pipeline hedging activities, as well as loan funding and loan sales transactions, allowing us to consult with you concerning best practices in the industry, the necessary journal entries, and other important considerations surrounding key mortgage accounting concepts.

We can also assist with other complex transactions, whether you’re doing a business acquisition, implementing a stock compensation plan, or entering into a non-recurring business transaction.

Richey May Select—Peer Financial Benchmarking and Metrics on Demand

Our benchmarking data offers the ability to measure performance and efficiency in critical business functions and operations that are closely tied to revenue and profits. This data helps drive informed decision-making aimed at improving efficiencies, increasing margins, and controlling costs.

Richey May Select

Strategic Data Analytics

The wealth of information available on mortgage lending in today’s market provides a remarkable opportunity for data-driven strategic planning and decision-making for independent lenders – if they have the ability to see through the noise. With decades of experience in the industry, our mortgage experts are able to do just that: sort through the flood of data to identify only those key points that are most useful in helping you run your business and staying competitive.


 Strategic Data Analytics

Compensation Survey

High-performing personnel are your greatest asset, but also represent the largest single expense incurred by mortgage companies. Make sure your compensation practices are competitive and in line with those of similar companies.


Compensation Survey

Ascent Performance Review

During our nearly 30 year history working with many of the top lenders and financial institutions in the country, Richey May has developed a deep understanding of the building blocks of a successful mortgage banking company. Our industry experts apply this knowledge in our Ascent Performance Review, focusing in on the specific financial and operational areas of concern that are hindering your company’s profitability, effectiveness and efficiency. Our tailored planning and fieldwork culminates in the identification of operational opportunities and deficiencies, providing practical recommendations for implementation that will positively impact your bottom line and help you better compete in the marketplace.

Business Process Improvement Review

Our mortgage experts can help re-design any of your business processes to streamline operations and improve efficiency, accuracy and profitability.

Policies and Procedures Review

In addition to satisfying regulatory requirements, clearly documented policies and procedures reduce risk and ensure that your staff has an efficient, effective road map to follow. We can help you in reviewing and designing key policies and procedures, including the following areas:

  • Loan Accounting
  • Servicing
  • Securitization

Internal Servicing Platform Review

A focused review of your internal servicing platform and related operations will help ensure your company’s compliance with industry servicing standards and identify operational improvements.

Internal Audit and Risk Assessment Design

Our internal audit and risk assessment design framework assists companies in identifying key risks in their major operational and functional areas. We help design the overall internal audit function and document the initial risk assessments for the internal audit plan and can provide ongoing assistance with the internal audit function.


Internal Audit


Loan Subservicer Oversight Procedures

We have developed a tailored loan subservicer oversight program designed to assist companies in fulfilling their responsibility to monitor and oversee the performance of their loan subservicers. We do this on behalf of multiple companies at the same time, allowing us to perform a more cost-effective, in-depth review.


Subservicer Oversight Review Procedures


 Regulatory Consent Orders

State and other regulatory consent orders are becoming a normal part of the compliance landscape for many lenders. Our experienced team of professionals can assist you in meeting the compliance testing and reporting requirements of these orders.

Servicing Transfer Reviews

We have developed a comprehensive review process to address the servicing transfer protocols and expectations required by the CFPB. It ensures that you have developed proper policies and procedures and that they adequately mitigate potential risks to consumers that may arise in connection with a servicing transfer.

Regulatory Operational Reviews (FNMA, GNMA)

FNMA, GNMA, FHLMC and others frequently request that companies have an annual review of their operations to ensure they are fulfilling their responsibilities as seller/servicers and that they are in compliance with applicable standards. Our team also focuses on providing ideas and suggestions for improvement.

Changes in the mortgage industry occur frequently and require management to revisit their strategic plans repeatedly. We work with you on being proactive instead of reactive to these changes to ensure that you achieve your goals and objectives.


Richey May is committed to staying on top of current trends and hot topics within your industry. As part of that commitment, we offer a number of resources to help our clients stay ahead of the competition.

  • Q3 2018 Snapshot for Independent Mortgage Bankers

    Richey May Select, the next generation in peer-to-peer benchmarking for independent lenders, has published our Q3 2018 Snapshot Report. This report highlights a few key trends from the third quarter 2018 results of Richey May Select participants.


    Download the PDF

  • Tax Cuts and Jobs Act: Additional Guidance Released

    Additional guidance on the new Tax Cuts and Jobs Act (TCJA) is finally starting to surface including proposed regulations on the Qualified Business Income (QBI) deduction under Section 199A.


    Learn More

  • Q2 2018 Snapshot for Independent Mortgage Bankers

    Richey May Select, the next generation in peer-to-peer benchmarking for independent lenders, has published our Q2 2018 Snapshot Report. This report highlights a few key trends from the second quarter 2018 results of Richey May Select participants.


    Download the PDF


  • Cloud Security Trends: Are You Prepared for a Rainy Day?

    One of the more pronounced trends in technology is a rapid move to the cloud. However, even though companies shift their infrastructure to the cloud, they remain responsible for developing adequate cybersecurity policies and procedures. Are your cloud environments properly configured and secured?


    Read More

  • Richey May Articles

    Expected Changes to 1098 Mortgage Interest Statement

    The IRS recently released the 2019 draft Form 1098 for mortgage interest reporting. Read our latest blog post to learn about the changes proposed for 2019 and why they are being made:


    Read More


  • States Step Up to Fill the Privacy Void

    In the wake of frequent and significant data breaches, protecting consumer data has been at the forefront of cybersecurity legislation. The states of Arizona, Colorado and California have recently passed updated laws to fill in gaps in current data privacy legislation. Read our latest blog post to understand your obligations regarding consumer data in these states, and how a holistic cybersecurity strategy can protect your business from both significant fines and reputational risk:


    Read More

  • Richey May Articles

    Entertainment Expense Reimbursements = Taxable Wages in Existing Regulation

    The Tax Cuts & Jobs Act eliminated the deduction for business entertainment expenses incurred after December 31, 2017. While this rule may sound straightforward, there is currently a potentially significant tax difference between entertainment expenses that a company pays directly to third party vendors from the treatment of entertainment expense that it reimburses to its employees. Our tax experts at Richey May have provided some guidance  on how to handle business entertainment expenses:


    Read More


  • Webinar: Provisions Impacting Business Income Under Tax Reform

    In May 2018, as part one of our Tax Reform and the Mortgage Industry Webinar Series, we hosted a webinar to examine the entity changes with the largest potential influence on the lending community. Topics during the webinar included: excess business losses, interest limitations, accounting method conformity to GAAP, and depreciation.


    Watch the Recording

  • Partnership Operating Agreements: Amendments Needed in 2018

    All businesses operating as partnerships for federal income tax purposes need to amend their operating/partnership agreements in 2018 to address new IRS audit procedures that significantly change how partnerships are audited and additional tax assessments are made. To learn more about the new procedures and how they are relevant to your partnership, click on the link below.


    Learn More

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Mortgage Banking Roundtable

Our annual Mortgage Banking Roundtable is designed specifically to facilitate peer-to-peer engagement among the founders, CEOs, and principals of mortgage banking companies. Our goal is to facilitate discussion on best practices and trends within the industry, and to stimulate the sharing of ideas for the benefit of all participants.


Learn More >




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