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While seemingly schooled in the many nooks and crannies of servicing through the conduct of benchmarking studies, the author was floored one day when a sweet but very firm compliance officer named Martha reviewed her upcoming agenda for the Board Audit Committee, which included a bulleted item entitled "Servicing Compliance." Here are some lessons in servicing compliance: 1. When a servicing compliance bullet appears on your Audit Committee agenda, you are in all likelihood already out of compliance on something. 2. Servicing compliance is not a separate servicing function. It is a mindset, and part of every function in servicing. 3. Automated decisioning in servicing is one way to keep servicing compliance off the board's agenda.
Do You Suffer From Servicing Compliance Deficit Disorder? Linda C Simmons Mortgage Banking; May 2009; 69, 8; Docstoc pg. 76 Reproduced with permission of the co
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