Post the 2008 financial crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) established the Consumer Financial Protection Bureau (CFPB), increasing scrutiny on the mortgage industry to adopt higher compliance standards.
Mortgage organizations must understand the potential strategic, credit, operational and compliance risks involved in this new environment. We help mortgage lenders implement additional controls to ensure compliance by leveraging our cutting-edge technology and in-depth compliance reviews. We help incorporate best practices by leveraging automated and individual regulatory industry knowledge to provide cost-effective audits and regulatory compliance monitoring.
Our team of experienced practitioners and industry experts has an average industry experience of over 27 years. Our seasoned audit staff utilizes their first-hand knowledge of federal regulatory requirements like the CFPB along with automation tools, including pre-built configurations integrated into top loan origination and document generation systems to provide the most accurate and expeditious compliance audits in the industry.
Our team has previously worked as entities or outsourced vendors in leadership capacities for federal regulatory entities, GSEs, and aggregators alike, levying or responding to heavy fines imposed for non-compliance. This has given them first-hand experience on the pulse of federal regulatory entities, GSE, and aggregators when it comes to fines due to non-compliance.