Data Mitigates Risk With good data, it's possible to overcome the obstacles to enterprise risk management

Enterprise risk management is an idea whose time has come for the mortgage finance industry, but its realization remains elusive. For lack of ERM, originators and servicers are experiencing severe discomfort with regulatory compliance and anticipating more pain to come. As with most complex processe...

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Bibliographic Details
Published inMortgage Technology Vol. 20; p. 8
Main Author Moyer, Jeff
Format Trade Publication Article
LanguageEnglish
Published New York SourceMedia 01.10.2013
Subjects
Collaboration
Competitive advantage
Compliance
Consumer protection
Customer information files
Cybersecurity
Enforcement
Enterprise risk management
Federal regulation
Mortgage companies
Productivity
Technological planning
Underwriting
Violations
United States > US
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Summary:Enterprise risk management is an idea whose time has come for the mortgage finance industry, but its realization remains elusive. For lack of ERM, originators and servicers are experiencing severe discomfort with regulatory compliance and anticipating more pain to come. As with most complex processes, the devil is in the details and for mortgage lending, the details are in the data. More specifically, in an industry inundated by data, the primary obstacle to ERM is the lack of a standard data format. That challenge is compounded by barriers to moving data efficiently.
ISSN:1098-4038