OCIE Helps Protect Your Business Investment
Previous regulations weren't satisfactory. Traditionally,
regulators based approval on mortgage originators’ credit decisions compared
against the government housing agencies’ underwriting guidelines. This approval
sought to ensure the safety and soundness of the banking system.
While this traditional approval is still in effect, consumer
protection has been added to the mix. Consumer Finance Protection Bureau (CFPB)
states that lenders must pay more attention to ensuring high levels of customer
satisfaction without compromising consumer protection.
The CFPB has made it clear that they will hold lenders
responsible for the actions of their employees, contractors and vendors, with
substantial fines for violations. Avoiding such fines requires a deep
understanding of the new rules and having a good system in place to track all
correspondence, documentation and transactions between borrowers, lenders and
vendors.
OCIE® is an Enterprise Content Management solution that not
only archives those correspondences, documents and transactions but also helps
automate workflow and make processes smooth, efficient and compliant. OCIE has
a unique set of enterprise-caliber tools for content management, process
automation and delivery that make it suitable for consumer protection. Or
should we say business protection as well?
Not only should businesses be focused on consumer protection
to satisfy new regulations, they should also focus on protecting themselves as
well. Having the right system in place to track all interaction between the
borrower, lender and vendor is essential in today’s mortgage servicing industry.
With that in mind, is your organization ready?
Visit our website www.OCIE.net
for OCIE Better Enterprise Content Management Solutions for business.
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