Vendor management

Servicers unfamiliar with the registry's requirements of having up-to-date policies and procedures in place are responsible for the increase in findings, MetaSource found.

Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation projects.

The credit union regulator has spent 20 years asking lawmakers for greater oversight of third-party vendors. Here's why it might finally happen.

Draft legislation would amend the Bank Service Company Act to give the National Credit Union Administration third-party vendor oversight, a power it has been requesting for the better part of two decades.

A security breach that left 24 million mortgage documents unprotected on a server is rekindling concerns about the risks posed by fourth parties.

Most mortgage lenders and banks do not maintain a comprehensive vendor management strategy, exposing institutions to increased compliance risk, according to a recent survey.

Updated Fannie Mae requirements clarify that lenders need to conduct an independent internal audit, something that might require additional investment by nonbanks to set up.

Fannie Mae is staging more pilot projects with lenders and vendors, including one that consolidates submissions of different types of loan data potentially eligible for immediate representation and warranty relief.

Fannie Mae is authorizing additional suppliers of reports that can give lenders immediate representation and warranty relief on certain data, diversifying beyond an exclusive partnership with Equifax in one category.

Banks that are customers of one or both vendors may look to leverage the situation to get better terms for certain products. But would small clients get enough attention from the global player the merger would create?