Our team of consultants and training experts are equipped to assist with a multitude of complex mortgage industry needs in this ever changing environment. Whether yours is a long-term project need or a one-time workshop ELMS brings the industry expertise and support to your doorstep.
Regulatory Compliance Reviews
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. It is critical to clearly understand and these processes 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- Identification and elimination of redundant processes, outdated practices, and technology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
In the role of Transaction Manager we provide our clients with the overall coordination and management of residential mortgage related purchases/ sales and or security transactions. This includes but is not limited to the following services:
- Communicate and distribute transaction loan populations as required per the transaction documents
- Coordinate loan due diligence and review results with appropriate stakeholders
- Track and resolve collateral exceptions and certifications with third party custodians
- Handle various inquiries/problems related to the transactions and coordinating inquiries/problem resolutions with all necessary parties
- Manage transaction timelines with internal and external parties to ensure all deadlines are met
- Operational efficiencies (reduced operational cost, shorter cycle time, etc.)
- Streamlined processes
- Risk management solutions to the highly risky and costly compliance and regulatory gaps
- Improved performance and corresponding tracking and monitoring metrics (Key Indicators)
- Increased customer satisfaction
Business Process Optimization
The continuous regulatory changes in the mortgage loan servicing industry, the introduction of new technologies, the increasing demands for better customer service and the growing competition create the need within organizations to optimize not only their resources but also their processes.
ELMS consultants bring extensive mortgage servicing knowledge, strong analytical and project management skills, as well as expertise on process optimization to help our clients identify business process improvement opportunities and successfully implement the corresponding solutions.
Our approach ensures each process optimization effort is managed as a project with specific and measurable objectives that are aligned with the organization’s strategic goals. Our efforts result in:
ELMS has highly experienced BPM’s in mortgage servicing operations to assist clients with the management and execution of mortgage servicing process improvement, data integration and/or regulatory compliance by performing gap analysis to find operational efficiencies, develop and implement new processes to improve efficiencies. We also provide consulting on process management where it is better to change how the process is monitored and controlled than to change the process itself.
The projects we manage range from basic improvements to existing processes (i.e. improve reporting, implement audit review, reassignment of roles and responsibilities, etc.), to complete process redesign and automation. ELMS focuses on process improvements to ensure consistency with company strategy, commitments and goals to maximize business impact.
Training workshops and seminars
Training programs and seminars facilitated by ELMS experts to ensure your firm is compliant and your staff adequately trained and knowledgeable with Fair Lending and Dodd-Frank/CFPB practices.
With the increase of distressed loans and regulatory requirements, we will custom develop a training workshop or seminar to meet the client’s specifications, i.e. default servicing requirements, State and Federal law compliance, best practices within risk management, technology systems training, change management, and more.