Lynn Donnell
attended the MBA’s National Technology in Mortgage Banking Conference and Expo
on March 18-21 in Los Angeles on the heels of an Orlando Mortgage Servicing
conference. This conference was more about mortgage technology practices and
trends, including automated processes, eDocuments and mobile customer
solutions. Lynn was there to learn about current regulatory compliance and the
technologies being offered to the mortgage servicing industry.
He concludes that
OCIE® is the keeper of all interactions between lender, borrower and vendors to
help protect the lender from loss mitigation and comply with regulatory compliance
requirements. OCIE is a complete audit trail of all interactions whether they
are in the form of documents, voice messages or other digital media archived.
Lenders can quickly and easily respond to customer or auditor requests through
their use of OCIE. This provides historical proof that the lender was within
compliance which reduces costly fines and court costs.
