From the Source: VASP Compliance Insights as the Program Winds Down
Matt Tully, Sagent’s Chief Compliance Officer spoke with National Mortgage News on what servicers should expect as the VA ends its waterfall guidance with the wind-down of VASP. Read the full article for more on this industry change and to hear more of Matt’s VASP compliance insights.
“The way I read it, this gets away from being overly regulated and prescriptive and pushes responsibility back to the servicers, but there are some concerns around that from a UDAAP and fair servicing perspective,” said Matt Tully, chief compliance officer for Sagent.
“The laws are the laws until they’re repealed,” Tully said, noting that even when regulators reduce layers of oversight, mortgage companies can be wary of retroactive enforcement from a future administration that might be more proactive.
Staying informed about regulatory changes and policy shifts allows mortgage servicers to move quickly and implement changes during a hectic time. Our CCO Matt Tully has his finger on the pulse in DC + across the regulatory landscape, and regularly offers Sagent customers — and the media — insights based on his expertise and experience.
If you’re looking for servicing technology that helps you prioritize compliance while reducing costs and building long-term homeowner relationships, take a look at our end-to-end platform, Dara which includes Core, Default, and Consumer servicing solutions. Or just hit us up below!