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HQVM - Eliminate Uncertaintly

January 14, 2015 BY MQMR Blogger

HQVM's  audit and monitoring solutions, combined with customized technology, enable a lender to effectively monitor and manage vendors by:
  • Evaluating vendor contracts and itemizing key provisions and expectations of both parties; ensuring vendor’s expertise and ability to provide the agreed upon services within the agreed upon time frame.
  • Conduct due diligence reviews of the vendor’s internal controls as they relate to consumer privacy issues, including systems controls, disaster contingency plans, and maintenance of documents/information containing consumer’s non-public private information.
  • Analyzing the financial strength of the vendor including financial statements, their ability to service existing lenders and to control and manage new business at their projected growth rate.
  • Assessing the level of risk presented by the vendor through a risk rating methodology.
  • Assessing the vendor’s quality and consistency of service based on the expectations and the contractual performance requirements.
  • Ensuring that the vendor’s business objectives are consistent with the lender’s strategic plan and overall business strategy, while maintaining an acceptable level of counterparty risk.
  • Document management and storage of key vendor information
  • Onsite review of vendors to verify and cross-check the information collected and analyzed.
  • Producing detailed and customized reports which can be utilized by management in making vendor selections and in conjunction with regulatory examinations to show proof of compliance with vendor monitoring obligations.

Schedule a meeting with  HQVM  at the Lenders One Conferenceby contacting your sales rep today .