Wolters Kluwer to Host Loss Mitigation Guidance Webinar May 27
Experts to Share Regulatory, Servicing Insights on COVID-19 Post-Forbearance Workouts
MINNEAPOLIS–(BUSINESS WIRE)–#cares–Experts from Wolters Kluwer Compliance Solutions are offering a complimentary presentation, “COVID-19 Workouts: Ready for the Influx of Activity and Regulatory Change?” for loan servicers to help address growing uncertainty around loss mitigation management and regulatory guidance in the wake of the coronavirus pandemic in a webinar 1-2 p.m. CDT Wednesday, May 27.
Wolters Kluwer speakers will include Thomas Grundy, CRCM, Senior Director, CMS and Regulatory Consulting, U.S. Advisory Services; Chris Zimmermann, Senior Technology Product Manager, Compliance Solutions; and Britt Faircloth, CRCM, Consulting Manager, Fair and Responsible Banking, U.S. Advisory Services.
The end of allowable forbearance periods as required under the U.S. CARES Act is expected to generate a considerable influx of borrowers who will require post-forbearance workouts to their mortgage loans. Servicers are concerned about having capacity to handle the impending wave of loss mitigation workouts and being able to manage the pace of regulatory change.
“These are truly unprecedented times for the servicing industry, given the severe impacts that the COVID-19 pandemic has imposed on lenders, servicers and borrowers,” said Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “Given these challenges, we recognize the need for sound processes and a holistic approach to compliance. We are ready and positioned to help the industry navigate through this difficult period in as practical and compliant a manner as possible.”
Wolters Kluwer is positioning its Expere Servicing and Loss Mitigation technology and warranted documents, in combination with its Consulting Services team, to assist servicers in helping address the challenges that post-forbearance workouts will bring.
Servicers will need to navigate changing state and federal loss mitigation requirements and the compliance burden associated with the expected influx of loss mitigation workouts. During this webinar, Wolters Kluwer experts will cover the latest guidance and challenges servicers will face, including:
- Operationalizing servicing in a remote environment
- Applying lessons learned from the financial crisis
- Maintaining a strong compliance governance program
- Analyzing workouts for adherence to fairness principles.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and other regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
In addition to its Expere technology and Consulting Services, Wolters Kluwer’s GRC division is offering a range of capabilities in response to the COVID-19 crisis, including Compliance Solutions’ Paycheck Protection Program Supported by TSoftPlus™ to support stimulus loan applications and loan forgiveness processes under the CARES Act. Business Entity Search for CARES Act solution, offered by Wolters Kluwer’s Lien Solutions business, conducts bulk/batch corporate identity searches to verify the business status of potential borrowers. COVID-19 Noteworthy Developments Bulletins aggregate COVID-19 related global regulatory changes, orders, notices and other informational updates for the financial services industry. The division has also launched a COVID-19 resource center to provide businesses and law firms with international, federal and state legislative updates.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
Contacts
Media Contacts
Paul Lyon
Director of Global Corporate Communications, Banking & Regulatory Compliance
Governance, Risk & Compliance
Wolters Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com
David Feider
Corporate Communications Manager, Banking & Regulatory Compliance
Governance, Risk & Compliance Division
Wolters Kluwer
Tel: +1 612-852-7966
David.Feider@wolterskluwer.com
On Twitter: @davidafeider