The mortgage loan servicing industry is in the middle of a period of sweeping regulatory change that has put tremendous stress on all participants in the industry.   The industry has been inundated with new legislation (both at the Federal and State level), new rules from existing and newly formed agencies, and additional oversight from a host of involved parties.   For the servicers and other entities involved, this means constant development of new processes, set up of entirely new  departments and the revamping of existing or building of new technologies to support this new environment.

For most institutions, this need to be continually reactive has created tremendous bandwidth issue among management.  For many, there is not adequate time and resources to run their businesses efficiently, meet customer and shareholder expectations and deal with stresses and changes of this ever-evolving regulatory environment.  At the end of the day, there is often not enough time in the day for managers and executives to become experts in the latest regulatory changes or to analyze their operations  for gaps created by these new rules.  And certainly, there is very little time left over to improve existing processes and make operations more efficient.

ELMS specializes in filling in these bandwidth gaps, and helping companies become more proactive by:

  • Researching the latest regulatory changes and communicating the impact of these changes to management.
  • Reviewing operations for regulatory compliance gaps.
  • Preparing companies for third party reviews and external audits.
  • Analyzing business operations for process improvement and risk mitigation opportunities.
  • Managing projects involving the implementation of new initiatives or systems.
  • Providing technology services for development of improvement management reporting and system enhancements.
  • Offering servicer oversight and servicer reviews for third parties with interest in the performance and compliance of the servicer.
  • Handling the outsourcing of technically difficult and high risk functions such as claims processing.

Additionally, ELMS specializes in providing highly customized and flexible service to its clients, allowing us to serve the full spectrum of companies involved in the mortgage servicing industry.