Managing Operational Risk in a New Era of Mortgage Lending

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If you've spent more than a few years working in the mortgage industry you are probably all too familiar with the term ‘silo’. Working in silos has long been the leading concern expressed by underwriting and operations teams. To the lay-person this means "in assembly line fashion". The life of a mortgage loan takes on a number of stages, from the loan officer taking the original application, through the end of the line securtization sale and transfer. At each stage in between, all phases of the process come with their own identifiable areas of exposure to credit policy expertise, regulatory compliance and enterprise risk oversight. When managing risk falls under your primary area of responsibility, as it does with mortgage operations, having a global perspective on enterprise risk...(read more)

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