Titan Risk Management Services (TRMS), a division of Denver-based mortgage fulfillment outsource services expert Titan Lenders Corp., has announced that it is expanding its offerings to include development, management, monitoring and support services for service provider governance (SPG) initiatives.
TRMS offers four SPG support services – program management, provider reviews, policy and procedures, and existing program assessment – to its bank and nonbank customers. All services are performed with an eye towards industry best practices, Federal Financial Institutions Examination Council guidelines and consumer impact as viewed through the Compliance Management System lens of the Consumer Financial Protection Bureau.
‘If there were a single area of the 'typical' mortgage lending compliance management and governance model that could be – make that should be – targeted as deficient or lacking in expertise, service provider governance would be it,’ says Titan President Mary Kladde. ‘Banks have had to grapple with this issue for years, but this is a relatively new concept for nonbank entities and a much more critical component of risk management than it has ever been.’