Interthinx Hosts National Risk Summit
AGOURA HILLS, CALIF. - August 29, 2013 - Interthinx, a leading provider of comprehensive risk mitigation solutions for the financial services industry, recently hosted its annual National Risk Summit in Avon, Colorado. Created to promote open discussion about the risks and challenges of the current marketplace, this year's event drew lending professionals from across the nation.
Organized along multiple tracks, including mortgage fraud, compliance/quality control, and retail lending, the National Risk Summit format encouraged attendees to individualize their learning experience. Jack Konyk, executive director of government affairs at Weiner Brodsky Kider PC, delivered the keynote address on the Consumer Financial Protection Bureau's (CFPB) recent enforcement actions.
"From the mortgage fraud track, it was clear that preparing underwriters for the switch from a predominantly refinance market to a predominantly purchase market is a top concern," said Ann Fulmer, Interthinx vice president, industry relations. "Leading current fraud trends for lenders are occupancy and property valuation, as well as fear that fraud levels will rise and new fraud types will emerge, along with the market's recovery."
"The compliance/quality control track at the Risk Summit revealed significant interest in and concern with vendor oversight rules, which are expected to create far-reaching consequences for lenders, servicers, and their vendors," said Roger Fendelman, Interthinx vice president, compliance. "Other top-of-mind concerns include compliance management and qualified mortgage calculations."
"On the retail lending front, among the top challenges bank lenders face today are external regulatory compliance and internal model validation acceptance," said Mike Smith, Interthinx chief technology officer/chief architect. "Accurate, transparent tools and technology are critical to guide lenders through this constantly evolving regulatory and compliance landscape. It's also critical to find the right balance to grow and expand the business in a controlled environment while managing the risk appetite and return on capital for the overall portfolio."
Key sessions from the Interthinx Risk Summit included Consumer Financial Protection Bureau (CFPB) Enforcement Actions, Current Mortgage Fraud Trends, a CFPB Vendor Oversight Workshop, Regulatory Perspectives on Forecasting and Stress Testing Models, and Best Practices to Prepare for Internal or Regulatory Reviews.
"More than ever, lending professionals know they need relevant and reliable risk management insight to remain competitive and compliant," said Jeff Moyer, president of Interthinx. "Interthinx has a tradition of prioritizing industry education as a core component of its mission statement, and it was with that idea in mind that we developed this year's National Risk Summit agenda around three distinct themes in lending today."