DENVER, Colo. /eNewsChannels/ — Titan Risk Management Services (TRMS), a division of mortgage fulfillment outsource services expert Titan Lenders Corp. (Titan), is expanding its offerings to include development, management, monitoring, and support services for Service Provider Governance initiatives.
TRMS offers four Service Provider Governance (SPG) support services to its bank and non-bank customers. These services were developed to support lenders in protecting both their customers and their enterprise. The SPG services offered include:
* SPG Program Management: Comprehensive program development, management, monitoring, and support services;
* Provider Reviews: Performing on and off-site annual oversight reviews and assessments of service providers;
* Policy and Procedures: SPG policy and procedure development, emphasizing risk mitigation, due diligence, documentation, ongoing oversight and conducting annual reviews; and
* Existing Program Assessment: A full review of a firm’s current SPG program.
All services are performed with an eye towards industry best practices, Federal Financial Institutions Examination Council (FFIEC) guidelines and consumer impact as viewed through the Compliance Management System lens of the Consumer Financial Protection Bureau (CFPB).
“If there were a single area of the ‘typical’ mortgage lending compliance management and governance model that could be, make that should be, targeted as deficient or lacking in expertise, service provider governance would be it,” said Titan president Mary Kladde. “Banks have had to grapple with this issue for years, but this is a relatively new concept for non-bank entities and a much more critical component of risk management than it has ever been.”
“In an era of increased regulatory controls for consumer protection, service provider governance has emerged as one of the critical factors needing attention within both the bank and non-bank sectors,” Kladde said
TRMS also helps prepare and guide mortgage businesses, in part, through CFPB examination readiness.
For more information about Titan’s vendor management services, contact TRMS at 855-540-1643 or by email at VendorManagement@titanlenderscorp.com.
About Titan Risk Management Services:
Titan Risk Management Services ( www.titanlenderscorp.com/services/risk-management ) is a division of mortgage fulfillment outsource experts Titan Lenders Corp. TRMS provides mortgage banking origination and operations risk expertise to complement and strengthen a firm’s current risk management position. Titan has decades of relevant and practical experience working directly in the mortgage banking business, managing credit risk, quality control, originations, fulfillment, compliance and other key areas.
Titan’s executives take pride in having successfully built and operated large mortgage platforms and understand what it takes to be successful in a rapidly changing environment. An Enterprise Risk Management (ERM) framework is utilized as a guide to assess and measure internal and external risks and controls for your company.
About Titan Lenders Corp.:
Denver-based Titan Lenders Corp. (www.TitanLendersCorp.com) was originally founded to meet the mortgage industry’s increasing appetite for a variable cost solution to managing mortgage closing, post closing, mortgage compliance and mortgage fulfillment processes without maintaining personnel or an investment in technology infrastructure. Today, that mission has expanded to include supporting strategic channel growth for lenders, servicers and investors evolving their businesses in an increasingly complex regulatory environment. As such, Titan’s core offerings have expanded to include MERS audit services, risk management services and whole loan purchase review. Additionally, Titan has also created a correspondent lending subsidiary, Titan Capital Solutions, to support a secondary/capital market strategy specifically for the correspondent lending channel
Backing these endeavors is Titan’s patented, proprietary web-based software Cerberyx (CBX), which supports a full suite of fulfillment services, including: funding, compliance, closing, post-closing, purchase review for correspondents and warehouse lenders, trailing documents, MERS management, FHA insuring, and document management (imaging). CBX’s flexible rules-based architecture allows Titan clients to define field level decision trees, priorities, checklists and process management specific to an investor product variance or a cross-investor climate.
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