Insights
ComplianceJune 05, 2020

Wolters Kluwer to host loss mitigation guidance webinar May 27

Experts to share regulatory, servicing insights on COVID-19 post-forbearance workouts.

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

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

Contacts
Paul Lyon
Paul Lyon

Global Corporate Communications Director: Global Marketing, Communications & Planning

Governance, Risk & Compliance Division
David Feider
David Feider
Corporate Communications Manager, Banking & Regulatory Compliance
Governance, Risk & Compliance