Servicing: Operations/Operational Risk
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Servicing: Operations/Operational Risk
Servicing: Operations/Operational Risk
Industry Challenges
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To manage operation risk from a regulatory compliance standpoint, certain issues must be addressed such as:
- Minimizing human errors
- Antiquated manual systems
- Inability to identify problem loans quickly
- Balancing loan quality and speed
- Knowledge of federal, state and local laws and agency guidelines
- Keeping abreast of constant legislative changes
- Awareness of increasing regulatory compliance scrutiny
- Impact of loan buybacks for compliance violations on company bottom line
- Costs of increased scrutiny placed on company by banking agencies for failure to comply
- Risks of lawsuits based on compliance violations
- Reputation risk for noncompliant loans
- Myriad checkpoints required to be performed on each loan
Industry Solutions
To help manage the operation risk imposed by regulatory compliance issues, Interthinx has created a system that offers automation of common compliance checks, data validation, streamlined processes, consistency, unbiased analytics for all 50 states, proof of compliance for investors and regulators, defense to litigation, cost reduction, and increased efficiencies.
