NAVEX Case Studies Mortgage Center Brings Consistency to Policy Management

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	Mortgage Center Brings Consistency to Policy Management NAVEX

Mortgage Center Brings Consistency to Policy Management

NAVEX

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Regulatory Compliance Monitoring
Services	System Integration
Challenge	Operating in a heavily-regulated industry can bring all kinds of challenges, especially when dealing with complex policies that regularly require updates to stay in regulatory compliance. For Don Braspenninckx, Vice President and Chief Compliance Officer at Mortgage Center, this was a challenge he was all too familiar with. Managing policies in different Word, Excel and PDF documents was creating major headaches. One regulation could touch nine separate, distinct areas of the company, so trying to disseminate information and keep it organized for all employees was a challenge. Read More
About Customer	Mortgage Center has been serving credit union members and mortgage borrowers since 1990. They have an amazing team of professionals that are experienced in mortgage lending and servicing. Being a full-service mortgage lender, Mortgage Center can offer loans that other lenders cannot. Unlike many other mortgage companies, payments for most mortgage programs will be made to Mortgage Center until the loan is paid in full. Their team of more than 100 people is dedicated to the vision of “Working together to grow the credit union community.” Read More
Solution	To solve the challenge, Mortgage Center decided to purchase PolicyTech to bring the organization’s disparate policies into alignment and disseminate accurate policy information more effectively. While going through the implementation process, Braspenninckx and his team invested a tremendous amount of time in bringing all documents into PolicyTech, stamping out rogue copies throughout the network in the process. They also put effort into stripping all procedures out of policies. By putting strict document type definitions in place, Mortgage Center is better able to manage documents within their corporate governance structure. Each business division can clearly see the policies, procedures, guides and checklists relating to regulations and laws that specifically affect them. Braspenninckx is then able to assign responsibility for tasks relating to rules and regulations to the applicable employee groups and track attestations. Mortgage Center also uses required readings and quizzes to assess document comprehension. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Regulatory Compliance Monitoring

Services

System Integration

Challenge

Operating in a heavily-regulated industry can bring all kinds of challenges, especially when dealing with complex policies that regularly require updates to stay in regulatory compliance. For Don Braspenninckx, Vice President and Chief Compliance Officer at Mortgage Center, this was a challenge he was all too familiar with. Managing policies in different Word, Excel and PDF documents was creating major headaches. One regulation could touch nine separate, distinct areas of the company, so trying to disseminate information and keep it organized for all employees was a challenge.

About Customer

Mortgage Center has been serving credit union members and mortgage borrowers since 1990. They have an amazing team of professionals that are experienced in mortgage lending and servicing. Being a full-service mortgage lender, Mortgage Center can offer loans that other lenders cannot. Unlike many other mortgage companies, payments for most mortgage programs will be made to Mortgage Center until the loan is paid in full. Their team of more than 100 people is dedicated to the vision of “Working together to grow the credit union community.”

Solution

To solve the challenge, Mortgage Center decided to purchase PolicyTech to bring the organization’s disparate policies into alignment and disseminate accurate policy information more effectively. While going through the implementation process, Braspenninckx and his team invested a tremendous amount of time in bringing all documents into PolicyTech, stamping out rogue copies throughout the network in the process. They also put effort into stripping all procedures out of policies. By putting strict document type definitions in place, Mortgage Center is better able to manage documents within their corporate governance structure. Each business division can clearly see the policies, procedures, guides and checklists relating to regulations and laws that specifically affect them. Braspenninckx is then able to assign responsibility for tasks relating to rules and regulations to the applicable employee groups and track attestations. Mortgage Center also uses required readings and quizzes to assess document comprehension.

Impact #1	One of the most visible ways that PolicyTech has proved its value for the organization is through its interactions with examiners and regulators.
Impact #2	The ability to use full-text searching is also a value-add for the company. Braspenninckx can use keywords to find every document within PolicyTech where those keywords are referenced, helping keep everything in alignment from policy to procedure to guide.
Impact #3	If changes are required, every document that needs editing is easily accessible, and changes can be made in real time.

Impact #1

One of the most visible ways that PolicyTech has proved its value for the organization is through its interactions with examiners and regulators.

Impact #2

The ability to use full-text searching is also a value-add for the company. Braspenninckx can use keywords to find every document within PolicyTech where those keywords are referenced, helping keep everything in alignment from policy to procedure to guide.

Impact #3

If changes are required, every document that needs editing is easily accessible, and changes can be made in real time.

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Overview

Mortgage Center Brings Consistency to Policy Management

Operational Impact