Mortgage origination and servicing has never been easy and it has become more challenging as organizations wrestle with the complexity of new rules and regulations against a backdrop of uncertain – yet potentially significant – adverse consequences.
Originators and servicers are understandably concerned as they begin to think about complying with the new rules and regulations. This concern deepens as organizations come to understand that the new rules and regulations are accompanied by two additional developments – the Consumer Financial Protection Bureau is a “data driven” organization committed to coordinating their efforts with other government agencies.
Advanced Business Intelligence
Mortgage TrueView provides originators and servicers with a flexible, scalable, and secure Business Intelligence platform that can source data from a range of databases – including core platforms and spreadsheets – to provide a comprehensive view of origination and servicing Key Performance Indicators that can confirm – or clarify – the data used by regulators in their supervision and oversight activities.
In addition, Mortgage TrueView systematically standardizes data which, in turn, drives fact-based, multi-dimensional benchmarking that enables a client to more easily identify, prioritize and achieve improvement opportunities. Better benchmarking results in more informed and meaningful improvement targets.
Collaborative Risk Management
Mortgage TrueView provides clients with the unique opportunity to incorporate anonymously transparent benchmarking – also known as collaborative compliance – into their risk management protocols. In addition to providing the comprehensive and relevant insight into a client’s absolute and relative performance, collaborative compliance allows clients to empirically demonstrate the management capabilities in identifying and addressing issues.
Mortgage TrueView and the collaborative risk management paradigm drive industry-wide standardization of taxonomies including data sets, metric definitions, and performance standards. Mortgage TrueView’s KPI Steering Committee – comprised of users, domain experts, and advocates – enhances outcomes and lowers compliance costs.