In the first episode of our new video series, The Subservicing Scene, Richey May’s Mignonne Davis and Jenifer Hughes explain what lenders need to know about establishing an effective and compliant oversight process.
Whether you’re using a subservicer or managing servicing in-house, the responsibility for regulatory compliance remains with you, the master servicer. This isn’t a “set it and forget it” relationship. From ensuring alignment with service level agreements to documenting reviews for regulators and investors, oversight is a vital piece of your risk management strategy.
Watch the video below to learn how to build a practical, effective, and defensible oversight process, as well as:
- Why oversight is a regulatory requirement
- Options for internal vs. third-party oversight
- How to assess frequency and focus areas for reviews
- What tools and resources (like the Fannie Mae Servicer Oversight Job Aid) can support your efforts
