Opus CMC will use ComplianceEase's flagship platform, ComplianceAnalyzer, to perform real-time, loan-level audits on loan pools that it reviews for aggregators, investors and residential mortgage-backed securities (RMBS) issuers.
Our consistent delivery of these exacting standards are core drivers of our client’s success.Operational and loan level compliance reviews based on various regulations like FDCPA, TILA, RESPA, and agency/ investor guidelines to identify process and asset level deficiencies across the following areas of special servicing:As with default management, federal laws help regulators enforce the proper treatment of consumer’s in bankruptcy and/or foreclosure proceedings. Laws, such as the Soldier and Sailors Relief Act, in some cases, overlooked by a servicer and have extreme consequences. Bankruptcy proceedings create an automatic stay of foreclosure proceedings and are very prevalent in today’s market to help curb the foreclosure of a consumer’s home. Foreclosure laws vary from state to state and are very complex and subject to change.• Maintenance of escrow accounts and insurance productsOpus CMC’s Operational Reviews assist clients in navigating consumer financial laws related to their servicing business. Additionally, Opus CMC tests for compliance with underlying regulatory, agency and secondary market investor requirements.• Information sharing and privacy• Consumer inquiries, complaints, and error resolution procedures© 2020 Opus Capital Markets Consultants, LLC is a wholly owned subsidiary of Wipro LimitedThe servicing industry landscape has been reshaped tremendously by market forces and regulation.
Opus Capital Markets Consultants, LLC is a privately held firm offering trusted financial products and services to capital markets participants. The same managers were carried over and the result has been the same.
We had to assess over 35,000 loans originated by Countrywide. I advanced from an underwriter, to a QCer to a final touch reviewer focusing on misrep. Regulators have publically expressed a heightened concern about these practices given the large number and size of recent servicing transfers.Previous regulator focus has been on the larger financial institutions; however, there has been a shift towards “non-bank” servicers and smaller community banks. Servicing compliance has experienced a tremendous amount of change in the past several years and continues to evolve. Regulators are more closely monitoring servicing transfers, evaluating stricter compliance rules, and stepping-up claims of discriminatory practices and disparate treatment of consumers. The 2010 passing of the Dodd-Frank Act resulted in the creation of the CFPB, whose sole mission is protecting consumers. Further oversight from the OCC, Federal Reserve Board, the FDIC, state Attorney Generals, and the DOJ have increased legal actions exponentially. Resulting consent orders and financial penalties require adherence to these laws and best practices established by the regulatory entities. Ensuring compliance with laws, regulations and internal polices is more complex and costly than ever before. • Loss mitigation, early intervention, and continuity of contact See what employees say about what it's like to work at Opus CMC. ""Owner is a woman and 9 out of 10 managers are women that did not compete openly for jobs. Menu & Reservations Make Reservations . We partner with our clients to insure understanding of regulatory requirements and options and alternative procedures for compliance. Benefits and pay are well under the competition.
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