I am curious as to who handles your paid ahead loans. We were just audited by NCUA and were told that the IA should be auditing the paid ahead loans. I agree that it should be audited but who is responsible for actually reviewing the P.A.L's? Our lending department was told it is not them and that IA should be handling it. We were thinking about maybe our call center since they do not have direct interest in that area. They want someone who is not directly involved in loans to review. Our past IA was reviewing loans where the member paid ahead and now the interest accrued was higher than the regular payment. She was sending the customer an actual letter. My thought is that IA should not have any contact with the member. Any thoughts or suggestions would be greatly appreciated. If you have an actual audit program for this area and would like to share, my email is [email protected]. Thank you!
