In a regulatory field already crowded with federal and state regulators mandating the processes financial services companies employ in managing their vendors, the rather short insertion in the Spring 2017 issue of the...more
We previously provided you five questions to determine whether your law firm vendor management program is sufficiently comprehensive. Given the attention drawn to such programs by regulators such as Office of Comptroller of...more
Law firms providing mortgage servicer clients default-related legal services are vendors, and financial services companies need to treat them as such. Not only that, law firms often interact directly and continuously with...more
8/24/2016
/ Attorney Representation Agreements ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Services Industry ,
Legal Representatives ,
Management Contracts ,
Mortgage Servicers ,
OCC ,
Third-Party Service Provider ,
Vendors
Yesterday, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (the “Semiannual Risk Perspective”). The Semiannual Risk Perspective covers “key issues facing banks, focusing on those...more
During the past five years, the relationship between financial services companies (FSCs) and their default related legal service producers (firms) has shifted profoundly. Driven by increasingly active regulators, customers,...more