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Commerce Velocity Addresses Consent Orders for Servicers

IRVINE, Calif. July 12, 2011 Optimizer

Umesh Verma

The Optimizer enhancements enable servicers to systematically implement regulatory policies across their operation, monitor the timeliness and completion of default or foreclosure processes, and devote time to counseling delinquent borrowers. "Our audit trail provides confidence to our servicers that stages are completed or gaps can be recognized and addressed expediently" said Verma. "Providing servicers with the ability to document and timestamp system activities by the parties integrated, including the borrower, not only meets a consent order requirement, it is smart regulatory risk management."

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