[1]Nationwide Title Clearing [2], a research, audit, and document processing provider to top financial institutions and investors in the residential mortgage industry, conducted a free webinar [3] on Thursday, July 23 to highlight the importance of consistency in third-party oversight and audits.
The webinar was led by William Borde, NTC’s vice president of risk management, and Myron Finley, the firm’s chief legal officer. They discussed how to begin bridging the gap between auditors and third-party vendors. They also discussed the risk of an administrative fine being levied, the operational risk that any process or function in the vendor’s services will lead to an adverse result, and the disconnect that occurs between servicers who focus on the regulatory risks and vendors who focus on the operational risks.
NTC is an award-winning third-party servicer and is audited every other week by lenders, servicers, and independent audit agencies.
Click HERE [1] to view the webinar.