Today’s mortgage servicers are faced with a fire hydrant-like blast of compliance issues.
In fact, the new CFPB (Consumer Financial Protection Bureau) will be more closely scrutinizing the oversight of mortgage servicing firms. In their recently released Mortgage Servicing Examination Procedures, the objective is clear, the new oversight focus will be on loans already in default. And for you, that may require new knowledge plus it will involve a whole new area of compliance concern.
So how will you ensure you’re adhering to the new CFPB servicing guidelines while you run the rest of your business?
Today you can outsource many of your compliance processes with confidence if you partner with the right provider. Such providers intimately understand your business and workflow challenges and have the experts with the experience and know-how ready to provide solutions. Such providers can help you rapidly weave more effective compliance process into your servicing workflow. Doing so allows you to more quickly overcome regulatory obstacles and prove to regulators that compliance with the requirements is an important part of your business. But perhaps even more importantly, it allows you to speed up the refinance or modification process while ensuring compliance. In turn, you’ll have happier customers and lower the incidence of buy-backs, helping your organization enjoy better margins and greater profitability.
For a more comprehensive look at compliance outsourcing, the current trends, concerns and solutions, download our FREE Point of View article:
Mind The Gaps
Why new compliance issues are demanding more and more of your attention
and how outsourcing can help you meet growing regulatory requirements more effectively and efficiently.
In this 5-page article you’ll discover:
√ The two big factors shaping the mortgage servicing experience.
√ Why keeping compliant in the era of Dodd Frank is about more than following directions, it's about maintaining your organization's profitability and reputation.
√ 5 essential qualities you should look for in a compliance outsourcing vendor.