As we navigate another year focused on transparency and consumer protection in 2015, banks, mortgage lenders and credit unions nationwide are spending more time, effort and energy than ever before developing policies and procedures to comply with the ever growing number of new regulatory requirements. The task can be daunting…and expensive. At SSI we have taken more than a decade of research and development to create an effective solution to addressing concerns over third party service provider risk management.
Today any person or entity that has access to a lender’s funds, mortgage documents, and the personal and financial information of borrowers, must be evaluated for risk. Failing to manage this issue can lead to potential regulatory penalties and legal claims. If you could have done something to reduce or eliminate risk, yet chose not to, that decision may have serious ramifications for your bottom line and the consumers you serve. Add to this the new integrated disclosure (TRID) requirements and the relationship between lenders and reliable and trustworthy settlement professionals is even more important.
Because all of us at SSI have mortgage industry business experience, we understand the concerns you may have about things such as cost, data privacy and security, implementation, and competitive disadvantages. Having been an innovator and thought leader in risk evaluation and management, we have constantly enhanced and retailored our products and services to provide you with cutting edge, effective risk management solutions. Today we can help you not just at the closing table, but when evaluating new hires and staff, and when considering (or monitoring) any third party vendor relationship.
The future of mortgage industry risk management is now. The regulators have spoken. If you are ready to embrace the need and find a comprehensive and cost-effective solution, please call us. We want to work with you, as your partner, to shoulder the burden of managing your risk thereby allowing you to focus on what you do best, selling loans.
Best wishes for a very successful year.