A Federal Agency that serves as a specialized financial institution regulator (Regulator) required assistance with strategic operational and financial support in developing, planning, and assisting the Regulator in readiness to resolve, remediate and manage troubled specialized financial institutions.
A federal agency client with consistently unmodified opinion outsourced majority of their accounting processing leaving only a core team to provide quality assurance. As such, the team was no longer able to provide an independent internal controls review and evaluation over the controls they now performed.
A Federal Agency required accounting assistance and financial management reporting support in accordance with the Financial Management Improvement Act (FMIA) to ensure compliance with OMB Circular A-127 and the Joint Financial Management Improvement Program (JFMIP).
A Federal Agency providing shared services to other Federal Agencies required accounting and reporting system support and project management that included Fund Balance With Treasury (FBWT) reconciliations, process commitments, obligations and Intra-governmental Payment and Collection System Transactions (IPAC) financial documents, reconciliations, internal control assessment and improvement, and quality assurance support services.
A Federal Bank Regulator providing oversight of National Banks engaged Warbird to assist with National Bank Examinations.
A city government offers annual public Lottery awards to qualified cart and kiosk vendors within the City’s public right of way. The Lottery was designed to ensure that all the vendors have an opportunity to be selected for a right of way location prior to the application and approval process. In order to remain independent, the city government hired Warbird as an independent firm to conduct the Lottery.
Warbird is engaged by a US Govt Agency (Agency) to perform annual compliance reviews of a top-20 US Bank’s activities to orderly liquidate a $10 Billion/15,000 asset portfolio of distressed commercial loans. Under the Bank’s agreement with the Agency, a major portion of losses incurred by the Bank in performing its duties were reimbursable by the Agency.
A federal agency that serves as a compliance agent for one of the housing and mortgage subsidy programs required assistance conducting servicer controls audits, issuing reports on these audits and providing supporting work papers to its oversight agency.
Project Background A National Mortgage Banking Lender sold a substantial portion of the $5B loan pool to the large banking buyer and faced Post Pool Loan Sale issues under Representations and Warranties (R & W). The buyer contested chain of title issues, legal descriptions, legal assignments, and unreleased prior liens. We were engaged to represent […]
Project Background A Mortgage Lender (Non-Bank) client wanted to liquidate $10-$15B in loans held in their investment portfolio. The loans were underperforming 9-12-year-old loans with regulatory compliance issues. The engagement was to review the loans and resolve, where possible, issues to enhance the sale value, with a primary focus on title curative and modifications. Services […]
Project Background: Nationwide Mortgage Banking client executed a Memorandum of Understanding (MOU) with the Consumer Financial Protection Bureau (CFPB). The MOU stipulated the client engage an Independent Third Party to resolve various rule violations found upon CFPB examination. Services & Solutions: Full examination and review of policies and procedures related to loan modifications Directives for […]
Project Background: A Money Center bank client needed to respond to an OCC examination requirement to address criticism of Policies and Procedures related to the required Vendor Management Rules. The examination stipulated the utilization of an independent third party to review and advise on specific improvement to P/P and necessary internal training of staff to […]
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