Adobe Stock
Slide 2 of 9
Use dashboards
The longer it takes a servicer to realize it has a compliance problem and get management to do something about it, the more costs can escalate.

One remedy: online dashboards that give top executives a risk-ranked view of key performance indicators for compliance.

"You can have a mechanism that runs data that show whether you are complying, and then generates executive level, configurable reports. So somebody can sit there and say, 'We're looking at 20% of the loans and every month the number of findings are going up in bankruptcy processing,'" said Cam Melchiorre, president and technology vendor IndiSoft.