Perspectives on Dealing with the Rising Cost of Compliance
Obvious on the surface, increasing regulation causes costs to increase and profitability to decline. What is less often discussed is the idea that economies of scale occur when making business changes to comply with ever changing regulations.
Mortgage industry expert Jeff Lebowitz, offers perspective on changing strategies and focus to deal with the ever increasing cost of compliance in this white paper exclusively commissioned by LoanLogics.
The compliance burden: ongoing regulatory change, increasing compliance staff, decreasing back office productivity.
Core competency and outsourcing: the rise of “vertical disintegration” and tapping new sources of skills to remedy compliance or human resource shortfalls.
The dance of outsourcing: transparent service level agreement and establish of a new de facto process and technology standard.
Remediating financial institutions: the complement to staying operationally strong is to partner with vendors who set the standard for specialized operational functions.
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