AUDIT OF RTC MORTGAGE TRUST 1995-SN1

May 31, 2002Audit Report No. 02-019Audit of the Professional LiabilityClaims ProcessTABLE OF CONTENTSBACKGROUND 1RESULTS OF AUDIT 3CORPORATION COMMENTS AND OIG EVALUATION 4APPENDIX I: Objective, Scope, and Methodology 5APPENDIX II: Summary of Prior Coverage 9APPENDIX III: Pertinent Federal Laws 11APPENDIX IV: Overview of Investigation Process 13 for Professional Liability ClaimsAPPENDIX V: Glossary of Terms 14 Federal Deposit Insurance Corporation Office of Audits Washington, D.C. 20434 Office of Inspector GeneralDATE: May 31, 2002TO: Mitchell L. Glassman, DirectorDivision of Resolutions and ReceivershipsWilliam F. Kroener, III, General CounselLegal DivisionFROM: Russell A. Rau [Electronically produced version; original signedby Russell Rau]Assistant Inspector General for AuditsSUBJECT: Report Entitled Audit of the Professional Liability ClaimsProcess (Audit Report Number 02-019)The Office of Inspector General (OIG) has completed an audit of the Federal Deposit1Insurance Corporation's (FDIC) professional liability claims process. These professionalliability claims are claims under civil law for losses caused by the wrongful conduct of peopleor organizations that have provided professional services to a failed insured depositoryinstitution. The FDIC Division of Resolutions and ...