In today's complex third-party vendor regulatory environment, companies are struggling to make use of reports and information to set strategies and accomplish business objectives. How many CEOs would say they are satisfied that their companies get maximum value from information? Equally important, how many have a systematic plan for evolving their reporting and information capabilities to meet the next level of regulatory challenges?
Today, third-party vendor management processes must be able to provide insights so that mortgage servicers can better align strategies, identify critical relationships and spot gaps in compliance. A good third-party information gathering process should provide a framework for servicers to evaluate their third-party vendors relative to all existing regulatory requirements, new and emerging case law, ongoing investigations, and the behaviors that led to any recent third-party company failures.
ProSys, a recently launched executive consulting company providing the mortgage industry with a broad range of services, says it has the professional experience, subject matter expertise, reporting and information-gathering technologies to ensure that servicers have a strong handle on third-party vendor risk management. The company helps servicers establish best practices for meeting federal and state regulations, as well as client-mandated compliance requirements.
ProSys specializes in helping servicing shops that focus on non-performing loans, with an emphasis on activities related to loss mitigation, foreclosure, bankruptcy and post-foreclosure real estate management, as well as the associated vendor management relationships.
ProSys was formed by business leaders who saw a need to assist mortgage servicers and their vendors in establishing and maintaining compliance with the ever expanding regulatory and industry requirements, especially in the area of non-performing loans.
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