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Vendor Management Policy Manual

Looking for a source to guide development of your company’s Vendor Management process? Look no further than AllRegs’ Vendor Management policy manual. This policy is designed to aid mortgage brokers, lenders, and originators attempting to navigate the regulatory waters of vendor risk management. This document reviews common types of vendor relationships and the risks they pose; discusses consumer complaint management by vendors, and oversight requirements for lenders/brokers. Also included is the four step process of a risk management process that meets the standards outlined by the CFPB, FTC and other agencies through Dodd-Frank, and in support of existing federal regulations like GLBA.


Included are topics addressing:

  • Indemnification
  • Insurance
  • Complaint tracking
  • Expanded operational checklists include:
    • Required Documentation
    • Financial History
    • Information Technology
    • Operations Management


The Vendor Management policy features the following benefits:

  • Supports strong operational preparedness
  • Establishes staff training requirements
  • Defines roles and responsibilities
  • Helps meet regulatory and internal compliance requirements
  • Allows policy revisions to fit your business model
  • Delivered via email within one business day
  • Reviews vendor relationships common to the mortgage industry
  • Educate your teams on risks associated with vendor relationships
    • Identifies nine types of business risk associated with vendors, including UDAAP
    • Provides a sample form to assist with risk assessment
  • Details steps for implementing a rigorous Vendor Relations Risk Management Process, including: Risk Assessment, Due Diligence and Vetting, Contract Requirements, and Comprehensive Monitoring
  • Outlines requirements surrounding Consumer Complaint Management for vendors

Optional Services

Maintenance: Receive regular and ongoing industry updates to keep your policy within regulatory requirements.

Publishing: Publish your manual, including your company procedures, in AllRegs Online to complete your policy manual solution.

Contact your account manager for information regarding these optional services!

Policy Manual
Vendor Management
Section Title Priority Action
1.1 Goals and Objectives Mandatory Review Include the point of view or culture of your organization in this section, if applicable.
1.2 Required Review Mandatory Review Be sure this accurately reflects your company’s annual policy review process.
1.4 Roles and Responsibilities of Vendor Manager Optional Enhancement This section identifies duties required of your organization’s vendor manager. Revise this to accurately cover all duties.
2.1 Internal Controls Mandatory Review Include or reference related procedures in this section.
3 Staff and Training Mandatory Review Include the means by which your organization provides and tracks required training.
5.1 Common Vendor Relationships Recommended Best Practice Revise this to include the types of vendors commonly utilized in your organization.
6.3.24 Summary Recommended Best Practice Include here the approving body for vendor contracts.
7.2 Complaint Resolution Procedures Optional Enhancement This section outlines a six-step process for handling complaints that vendors should follow. Amend as applicable.
9 Appendix Recommended Best Practice This section includes sample forms. You should replace the samples with any different forms used within your organization.