Cover Your Assets (CYA) Part 2
Filed under: Cover Your Assets — admin @ 4:16 pm
Part two of a series beginning here.
Let’s start with documents. Are you compliant on state and federal levels on initial disclosures and/or closing documents? If you’re not sure, you have a problem and it should be addressed immediately. You have several options available to you to help resolve issues of this sort:
- Seek legal counsel;
- Hire an experienced compliance professional to come on staff;
- Employ an industry consultant for a period of time;
- Find a good Quality Control Company;
- Make sure your doc prep vendor provides reps and warrants on the state and federal level.
All options mentioned above have their time and place. If you’ve been around a while, are experienced, and interested in risk mitigation, find a good doc prep company that will rep and warrant their initial and final disclosures/documents on a state and federal levels. This combined with a strong internal QC Policy and a diligent and conscientious Quality Control Service should serve you well in the area of CYA.
To be continued…
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