Servicers must comply with a host of changing regulatory requirements. Many servicers find themselves scrambling to respond to these changes, mandates, and requirements. These often result in the need to create a new department or process within very short timeframes to ensure compliance with a new state or federal requirement. Obviously, it is critical to clearly understand and document these processes accurately, and to create new, effective, flexible and compliant processes.
ELMS applies industry leading expertise and process analysis experience to help clients create a strategic, flexible method to accommodate any new regulatory compliance requirements. We involve all stakeholders beforehand to ensure an effective partnership throughout the entire process.
Our approach focuses on:
- Identification of root cause issues and challenges
- Development and definition of an optimal process structure
- Seamless integration of new regulatory requirements with current structures and processes
- Identification and elimination of redundant processes, outdated practices, and technology
- Implementation of new solutions using industry best practices