Michelle L. Rogers discussed "Preparing for servicing exams in the current regulatory environment" at the Mortgage Bankers Association National Mortgage Servicing Conference & Expo
As the overall regulatory environment adjusts to changes at the CFPB, servicing exams will continue to evolve. In addition to discussing the basics of preparing for a servicing exam, this panel provided an update on the regulatory environment, including the increasing role of states, address servicing exam trends, and discussed the CFPB’s data requests and findings from recent exams and internal audits. While exam readiness is important, there are other measures servicers can implement, including loan file audits, to maintain continued compliance. The panel also discussed ongoing compliance measures servicers should implement between exams.