Press
NeighborBench releases Mortgage Servicing Rules Compliance Self-Assessment, part 2
FREDERICK, MD (January 31, 2014) — NeighborBench is pleased to release a Mortgage Servicing Rules Compliance Self-Assessment, Part 2 of our series on the new mortgage rules.
The first installment, the Mortgage Rules Compliance Self-Assessment (Part 1), was released earlier this month to assist institutions with the new mortgage rules that took effect January 10th. This week, we turn our attention to servicing.
Our experts have designed this new tool to help institutions think through each of the new mortgage servicing requirements and prioritize where to apply available resources next based on the institution’s individual compliance status and risk rating.
An Excel worksheet walks you through the process of first assessing your progress in each of the key areas of the rules, then making a second assessment about the risk rating for each area (by determining how applicable it is to your institution’s circumstances and how significant that particular area is). The tool then calculates a risk exposure score for each area.
Once the self-assessment is filled out, the highest scoring areas would typically be where the institution should next focus its efforts.
The tool is available at no charge by contacting NeighborBench’s Mike Lane at mike.lane@neighborbench.com or 1-888-972-3624, ext. 7015.
About Us
NeighborBench’s unique compliance solution combines the latest in automated tools with experienced professionals to help reduce the primary challenges of compliance: cost, time, resource requirements, and the disruptive nature of traditional consulting firm solutions. Learn more at www.neighborbench.com.