Our approach to outsourcing is to collaborate with you to develop and maintain your mortgage servicing compliance program in order to ensure compliance with applicable laws and regulations related to mortgage servicing.
From the start of the engagement, we are involved in assisting you in formulating regulatory compliance strategy and regulatory initiatives and projects to completion in coordination with management, legal, and business partners.
- SUPPORT the mortgage servicing compliance staff to provide day-to-day compliance support and issue resolution, and serve as the primary resource for new initiatives and projects related to mortgage servicing laws and regulations.
- TRACK legislative and regulatory developments that affect mortgage servicing. Identify emerging compliance trends and best practices related to mortgage servicing, industry trends, and changes in operating activities to ensure internal compliance controls are implemented where necessary and existing controls retain their effectiveness.
- PREPARE SUMMARIES of legislative and regulatory changes and disseminate compliance bulletins to affected groups within the organization.
- REVIEW and DRAFT of forms and disclosure documents for compliance with applicable laws and regulations and internal policies and procedures.
- SUPPORT COMPLIANCE ADMINISTRATION and operations by utilizing servicing activity data, risk assessment findings and other analytic analyses. Report findings and strategic recommendations to senior management, Board committees, the Board of Directors, internal and external auditors and regulatory examiners, as appropriate.
- REVIEW POLICIES and PROCEDURES and recommend, develop, and implement changes to existing and proposed procedures, policies and programs.
- DEVELOP and MAINTAIN maintain effective and positive relationships with operational managers and stakeholders to facilitate partnership approach to compliance risk management.
- ENSURE CONTINUAL MAINTENANCE of effective compliance policies, procedures, and programs.
- IDENTIFY, COMMUNICATE, and DEVELOP compliance education and awareness programs and assist with the delivery or development of compliance training.
- PROVIDE COMPLIANCE TOOLS, including appropriate state and federal law matrices.
- ASSIST IN COORDINATING REGULATORY EXAMINATIONS, including the facilitation of information gathering, analysis, and synthesis of data into a logical and consistent format.
- DEVELOP INTERNAL CONTROLS to mitigate compliance risks identified during risk assessment review processes.
- ASSIST IN DOCUMENTING CORRECTIVE ACTIONS required as a result of deficiencies identified by reviews, audits and regulatory examinations.
- COORDINATE regularly with certain departments to ensure compliance alignment within the organization.
- PARTICIPATE as required in management committees with respect to regulatory compliance issues.