Servicing risk management

MSX

MSX is a practical risk assessment tool to help your organization establish critical priorities in the months to come. MSX will help you facilitate the execution of your strategic plan by helping you identify internal and external threats known and unknown that could throw you off course.

Mortage servicing is one of the most complex business systems in existence today. A mortgage servicing operation serves its shareholders, but must meet the hundreds of rules and requirements of complex investors, insurers and regulators. The organization may move billions of dollars through its operation every month and manage millions of transactions annually. Mortgage servicers support a customer base that could stretch across a nation and engage every social and economic sector. Mortgage servicing is no longer a side business or a vague subsidiary. Mortgage servicing is full of risk full time. Mortgage servicing requires experts in managing business risk. BES is that expert. MSX is the product you need to make mortgage servicing strategy execution work for all interested parties.

MSX Risk Assessment Module

Strategy Prioritization Module

Business Risk Control Module

KRI Dashboard Module

MSX Risk Assessment Module

We combine our enterprise risk management knowledge and our knowledge of mortgage servicing to provide you a thorough assessment of your mortgage servicing business risk. Through our hand-crafted risk map and our thorough business and process knowledge we deliver a unique assessment of your mortgage servicing operation. Our MSX process is a unique and thorough system for evaluating key mortgage servicing business risks. We will produce from this process prioritized enterprise-wide business risks that will assist your servicing organization in establishing strategic priorities and allocating resources.

Strategy Prioritization Module

MSX strategy prioritization tools provide an ongoing method for your management team to understand and communicate key strategies. A key to managing mortgage servicing is to manage multiple priorities through an enterprise of highly specialized personnel. The fact that your mortgage servicing management team is managing so many priorities today makes this tool a critical part of your ongoing success. The strategy prioritization module allows you to control priorities at the servicing manager level, but delegate responsibilities down to the supervisor and senior associate level. The tool allows these front-line personnel to communicate the status of key priorities, which rolls up into summarized executive level information appropriate for senior management or the Board of Directors.

Business Risk Control Module

Management’s assessment of business risk is improved greatly when the controls management is using to mitigate business risks are documented. The documentation of these controls allows other managers as well as senior management to evaluate whether the business process used to mitigate an existing control is adequate or not. This MSX module allows the organization an opportunity to have a second opinion on whether a particular business risk can be adequately controlled by the checks and balances a particular manager or supervisor has in place. This module also allows managers and senior management to determine whether or not they agree with the level of risk the organization faces given the controls that are in place.

The Business Risk Control Module allows managers to document for each type of internal or external threat or business risk what type of business process is in place to mitigate this specific business risk. This documentation provides a significant level of understanding and communication to senior management as well as the Board of Directors on exactly the steps front line management is taking to minimize certain business risks. If deficiencies are determined to exist, then business strategies and priorities can be adjusted to ensure that business processes are improved to reduce the related business risk to an acceptable level.

Imagine the clarity and transparency created in a mortgage servicing operation where its key business practices for controlling all types of business risk attributable to a mortgage servicer are documented and communicated. The Business Risk Control Module allows senior management to select certain types of business risk for the organization as a whole and immediately receive a summary of the business processes used to control that risk throughout the organization. Alternatively, senior management can view risk and related controls for an entire department, or only a certain risk in a specific department or processes managed by a specific individual.

A key factor in managing enterprise risk is knowing whether your management team understands the business risk they manage and whether or not they understand how they effectively manage this risk to an acceptable level. The Business Risk Control Module will walk your management team through the types of risks they should address on a routine basis. This makes documenting business risk management processes or controls for your management team simple and straightforward.

KRI Dashboard Module

They are changing rapidly, but investors and insurers are clear on their expectations for mortgage servicers. The bar is high. The KRI Dashboard Module directs your mortgage servicing team into the measurement of key risk indicators important to mortgage servicing compliance for FNMA, FHLMC, GNMA, FHA and VA and strategy execution for the owners.

Your end users will have the opportunity to select from over 200 possible options of measurable facts from every conceivable mortgage servicing process. They have the opportunity to determine if they will be reporting the results from this business process hourly, daily, weekly, etc.