Compliance

We Believe Efficiencies Shouldn't Mean Cutting Corners

A Solid Foundation of Compliance

Senior Leadership and Management Oversight

In order to create a culture of compliance at any business organization, senior leadership at the top must establish it as a main priority by communicating clear expectations, adopting clear policies, and building an appropriately staffed compliance function.

A Strong Compliance Program

The organization must define and document its commitment to compliance adherence through a formal, written compliance program with policies and procedures, training, monitoring and corrective action.

A Consumer Complaint Management Program

Proactively customizing our systems and work-processes to make compliance simple. Protecting your business form counter-productivity and providing tools to help offset the inherent risk associated with servicing consumer related products.

An Independent Compliance Audit

Maintaining an independent compliance audit process allows the organization to review if policies and standards are being implemented, to remediate any deficiencies, and strengthen the program .

We Provide Solutions

Not Problems


The Compliance Management System (CMS) at Servicing Solutions stands at the very foundation of our company culture, and it is embedded in everything we do.  We strictly engineered our CMS by state and federal laws, regulations, and guidelines and generated a comprehensive compliance program built on the four elements critical to any successful Compliance Management System: Senior Leadership and Management Oversight, a Strong Compliance Program, a Consumer Complaint Management Program, and an Independent Compliance Audit.   This generates a noticeable advantage, and sets us apart from other servicing organizations in the industry.

Servicing Solutions Compliance Management System includes:

COMPLIANCE COMMITTEE OVERSIGHT

Servicing Solutions ensures that its Compliance Management System is fully supported by senior management, by regularly engaging them in every aspect of compliance related matters and decisions. This includes senior management participation on the Compliance Committee, during regular meetings to review compliance related trends and results, to address the remediation requirements for any compliance matter, and for the review and approval of compliance related policies and procedures.  By ensuring that the senior management of each departmental area is consistently engaged with compliance as a top priority, compliance remains embedded at the forefront of everything we do for our customers and clients.

vendor management

Servicing Solutions maintains a formal vendor management process.  Vendor Management ensures that each prospective third-party vendor is vetted through a due-diligence process prior to conducting business with, or on behalf of Servicing Solutions.  In doing so, Servicing Solutions ensures that vendors Servicing Solutions elects to conduct business with, follows the letter and spirit of legal and regulatory requirements.

CALL RECORDING AND MONITORING

Servicing Solutions records and retains digital voice recordings on 100% of calls with consumers and customers, which serves as a valuable control and provides the ability to conduct regular random and targeted call monitoring activities.  The ability to monitor calls allows Servicing Solutions to provide developmental feedback to agents to continuously improve performance. In addition it allows us to research any potential issues or concerns, to ensure we maintain full
compliance and can correct any behaviors that are not completely consistent with that objective.

COMPLIANCE TRAINING:

Servicing Solutions embraces training as a foundation that drives behavior in numerous areas, including compliance.  From new-hire to seasoned veteran, we leverage in-class and computer based training to educate our team about regulatory requirements and the importance of maintaining strict compliance when conducting day to day business and interacting with customers.  Compliance works closely with the Training department at Servicing Solutions to design the compliance training curriculum, and to ensure required training is completed and
results are tracked.

COMPLAINT MANAGEMENT PROGRAM

Servicing Solutions maintains a well-defined complaints response and management process to ensure that any formal complaint is responded to accurately and in a timely manner. Complaints are reviewed from a trend-analysis perspective to determine the reasons for complaints, and to remediate any issues generating complaints and to minimize or eliminate the root-causes that result in escalated customer concerns.

INTERNAL AUDIT AND COMPLIANCE TESTING

The Internal Audit department at Servicing Solutions is commissioned with the regular auditing of specific business process to ensure best-practices and compliance with legal and regulatory requirements.  In addition, each department is audited on a regular basis to ensure compliance with departmental policies and procedures, and to make recommendations to change and improve performance.  Regular compliance testing monitors and tracks results related to specific compliance related requirements, so any issues can be identified and remediated quickly. Additionally, Servicing Solutions partners with CAPCO (formerly FIS) to review and evaluate its compliance program on a regular basis.

The Right People

Choosing to do the Right Things

commitment


Each member of the leadership team at Servicing Solutions is 100% committed to maintaining strict adherence to legal and regulatory requirements, and the underlying philosophy of “doing the right thing”.  This level of commitment to compliance is instilled from the senior. management level starting with the C.E.O., to front-line management which leads each team according to the same principles when conducting day to day business.

Once you’ve seen it all

you know what to look for

Experience


 The experience that we have gained in the servicing arena over the years, both individually and collectively (across multiple product-lines and organizations), allows us to attest confidently that we know what we are doing. This is important from a compliance perspective, because it allows us to avoid the pitfalls associated with inexperience that ultimately results in costly compliance gaps and shortfalls.

In Our Industry

Every Detail Matters

alignment


Our systems and processes are built with legal and regulatory compliance in mind from the start, rather than as an after-thought somewhere down the path. By proactively customizing our systems and work-processes to support and in favor of compliance, rather than  counter- productively with indifference or against it, we are then better able leverage those tools to help offset the inherent risk associated with servicing consumer related products. Additionally, having the ability to customize our systems and processes means we are positioned and ready to take on new types of products and customers in an expedient but diligent manner when opportunities arise.

Don’t Take 2 Steps Forward Just To

Take 3 Steps Back

Your First Step Starts Here