At what point are you ready for subservicing?

About the Podcast

In this podcast we will address a common question that comes up for credit unions with portfolio loans and/or those that retain servicing for loans sold to investors: What is the minimum volume of loans needed to justify a move towards subservicing?

podcast with
Preferred partner
Dovenmuehle
Share

Listen On:

iTunesSpotifyApple PodcastRSSStitcher

Key Takeaways:

  • [01:00] What are the benefits of using a subservicer?
  • [04:13] Partnering with the correct subservicer can lead to substantial cost savings.
  • [08:45] Understanding your organization's strengths and weaknesses is crucial, and many overlook hidden costs.
  • [16:40] Credit unions must ensure subservicers adhere to strict regulations, maintain licenses, and undergo thorough examinations for data security and compliance.
  • [19:49] Credit unions should assess operations carefully and consider subservicing for growth.

BLOG for reference: https://www.dovenmuehle.com/articles/readyforsubservicing

Whitepaper for reference:

https://dovenmuehle.s3.us-west-1.amazonaws.com/DMI-Whitepaper-VettingSubservicer.pdf

Presented By

Chris Torres
Chris Torres

Business Development | Dovenmuehle

Chris Torres joined Dovenmuehle as a Business Development Representative in 2022. In this role, his responsibilities include growing Dovenmuehle’s client list by sourcing new prospects while fostering and developing long-term client relationships. Previously a member of the Dovenmuehle Product Development team in San Francisco, Chris has a background in financial technology research and development plus a decade of experience in the capital markets and commercial banking space. Chris comes to Dovenmuehle from S&P Global Rating’s U.S. RMBS team with previous experience at Citywide Banks in Colorado as a Commercial Credit Analyst and Wells Fargo where he began his career. 

Dovenmuehle
Dovenmuehle is the NAFCU Services Preferred Partner for Mortgage Subservicing.

Related Resources

Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically.   [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters.  [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public

The Evolving Role of the CISO in Credit Unions

Cybersecurity

preferred partner
DefenseStorm
Podcast
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public

2024 Mid-Year Fraud Review

Strategy & Growth, Consumer Lending

preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-06-13 09:00:00 2024-06-13 09:00:00 Democratizing AI-Powerful Regulatory Compliance for Every Financial Institution  Listen On: Key Takeaways: [02:11] One of the interesting components of a survey that Wolters Kluwer did last year was that 57% of our respondents reported that growing levels of regulatory scrutiny were a key worry for them. [04:01] Naturalized word processing and machine learning all have been in our lives but they have also been used in regulatory compliance for many years.  [11:09] Augmented intelligence is using AI to automate tasks that are simple tasks to do. [16:37] Volumes and expectations are increasing. AI is fast-moving. It is super attractive but it must be used correctly.     Web NAFCU digital@nafcu.org America/New_York public

Democratizing AI-Powerful Regulatory Compliance for Every Financial Institution 

Compliance

preferred partner
Wolters Kluwer
Podcast
Add to Calendar 2024-06-10 09:00:00 2024-06-10 09:00:00 Gallagher Executive Compensation and Benefits Survey Listen On: Key Takeaways: [01:11] More than 700 credit unions participated and provided information for about 2500 of their executives. [04:01] Over ten years, the annual raise percentage has more than doubled. [07:41] Nonqualified benefit plans or executive benefit plans are used to retain and reward your executives, top leaders, and other top performers. [09:22] 23% of other leaders or managers were also receiving some sort of nonqualified benefit plan. It is showing that there is a greater need and desire to retain these up and comers and build their leadership pipeline. [16:52] Work with a compensation consultant to make the data more actionable. The data behind the data is where you can find the actionable tasks and make sure they are aligned with your strategic goals and where you want to be.    Web NAFCU digital@nafcu.org America/New_York public

Gallagher Executive Compensation and Benefits Survey

Leadership Development

preferred partner
Gallagher
Podcast