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June 16 th , 2004

 

With the Sarbanes-Oxley laws now requiring complete implementation, MIAC announces that the public accounting firm, Grant Thornton, www.gt.com is performing a SAS 70 Type II compliance review of all MIAC's outsourcing financial reporting activities. The SAS 70 Type II audit will review:

  • FAS 140 - Loan Level Amortization and Impairment Testing
  • FAS 140 - MSR Third-Party Fair Market Value Opinions
  • FAS 133 - MSR Hedge Effectiveness Testing
  • FAS 133 - Mortgage Pipeline Hedge Effectiveness Testing
  • Daily Mortgage Pipeline Hedge Advisory Services and G/L Reporting
  • FAS 115 - Mortgage Whole Loan Fair Market Value Opinions
  • MSR Loan Level Tax Accounting
All of MIAC's outsourced financial analysis and reporting services utilize MIAC Analytics™ software, which is the industry mortgage banking integrated valuation and risk management solution. MIAC Analytics™ is developed and maintained under strict version control and release testing procedures in compliance with the highest software industry standards.

For further information, please visit www.servicing.com.

 

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