2013 Year End Review
Actualize Consulting is proud to reach the milestone of ten years of service to the Financial Industry. We are proud of our accomplishments and service to the industry in 2013 and throughout our history. In that connection, Actualize launched its Knowledge Share Series, a series of audio clips on relevant industry topics available on the Actualize website.
Trends in the market and how we can help you be in compliance are discussed below.
Mortgage Industry Standards Maintenance Organization (MISMO)
MISMO implementation and absorption into the fabric of the mortgage industry remains on the upward trend for 2014. The trend is supported by mandates from the FHFA and the GSEs for Servicing and the new Integrated Mortgage Closing Disclosure regulation from Consumer Financial Protection Board (CFPB) that includes the new Qualified Mortgage Rule information. Actualize consulting resources are highly trained in both trending triggers as well as the latest MISMO Reference Model version 3.3. As part of our offering to meet the industry needs the Actualize Service Offering for MISMO will be focused on three key areas; Investor reporting as a part of servicing, Closing Disclosure and the TransformX product . We are an approved MISMO® Independent Assessor.
2013 Key Highlights
TransformX
This year Actualize Consulting launched TransformX, its first joint effort technology product to service the market and support the industry and accelerates MISMO standards compliance. Actualize Consulting partnered with CompuGain to release an innovative new product that will support technology solution providers, software vendors, lenders, settlement agencies, servicers, mortgage brokers, secondary market participants and the industry in order to transform an organization’s current data format to the MISMO® standard format (XML) and vice versa. As a result, organizations will achieve a faster speed to market to meet compliance requirements without spending a lot of funds to re-engineer internal systems.
Mortgage and Fixed Income
During 2013 we continued to focus on being the leader in consulting related to mortgage standards. Because of our relationships with the GSEs, FHFA, FHA, GNMA, MERS, the Common Securitization Platform, and the CFPB we have a unique view into the true changes that are occurring related to the standardization in our industry.
We continued our work in the MERS compliance arena and have enhanced our offerings to include training, technology, and our traditional audit functions. Related to CFPB, we have assisted our clients with preparation for audits. Additionally we have helped our clients understand the nuances of what needs to be in place to do business with Freddie Mac, Fannie Mae, and FHA. Our depth of knowledge in this area provides our clients with quick and targeted engagements that provide them with the exact information that they need to be ready to conduct business.
As the industry is headed towards the adaptation of MISMO standards to reduce processing costs, increase transparency, and boost investor confidence in mortgages as an asset class, industry experts such as Actualize Consulting’s Heather Kerns are active in the MISMO community. Heather Kerns supports the industry’s need for education and training on MISMO standards by participating in the MISMO Education Committee and helping to design and implement the curriculum offered by MISMO. The availability of dynamic and useful training is supporting the industry as the GSEs are moving to a standard for transactions based on the MISMO Reference Model. In addition, Matt Seu member of the MISMO Strategic Planning Committee. Matt has worked closely with the MBA and MISMO to create and launch a Vendor Certification Program that provides service mark seals denoting alignment with MISMO standards. Actualize Consulting is poised to accelerate participation during 2014.
Information Technology
During 2013 we have developed a series of tools and technology solutions related to the integration of mortgage processes and systems. After significant dedication to modern technologies we believe that we have solutions that will lower cost, reduce data interfaces, increase flexibility, and improve controls. We expect to announce more about this mortgage data platform in 2014.
Wellness Program
To promote the health and well-being of the heart of Actualize, our expert and experiences consultants, the firm implemented firm-wide wellness program. The nature of the program is extremely flexible to meet the needs of our geographically dispersed and the travel-oriented nature of consulting work. Each employee is given an annual budget to allocate to wellness needs such as gym membership, specific exercise activities, and health coaching. Our cutting-edge wellness program keeps our employees in top physical and mental condition ready to meet the needs of our client base.
We look forward to working with you in 2014.
Best regards,
Matt Seu and Chad Wekelo
Actualize Partners
Trends in the market and how we can help you be in compliance are discussed below.
Mortgage Industry Standards Maintenance Organization (MISMO)
MISMO implementation and absorption into the fabric of the mortgage industry remains on the upward trend for 2014. The trend is supported by mandates from the FHFA and the GSEs for Servicing and the new Integrated Mortgage Closing Disclosure regulation from Consumer Financial Protection Board (CFPB) that includes the new Qualified Mortgage Rule information. Actualize consulting resources are highly trained in both trending triggers as well as the latest MISMO Reference Model version 3.3. As part of our offering to meet the industry needs the Actualize Service Offering for MISMO will be focused on three key areas; Investor reporting as a part of servicing, Closing Disclosure and the TransformX product . We are an approved MISMO® Independent Assessor.
2013 Key Highlights
TransformX
This year Actualize Consulting launched TransformX, its first joint effort technology product to service the market and support the industry and accelerates MISMO standards compliance. Actualize Consulting partnered with CompuGain to release an innovative new product that will support technology solution providers, software vendors, lenders, settlement agencies, servicers, mortgage brokers, secondary market participants and the industry in order to transform an organization’s current data format to the MISMO® standard format (XML) and vice versa. As a result, organizations will achieve a faster speed to market to meet compliance requirements without spending a lot of funds to re-engineer internal systems.
Mortgage and Fixed Income
During 2013 we continued to focus on being the leader in consulting related to mortgage standards. Because of our relationships with the GSEs, FHFA, FHA, GNMA, MERS, the Common Securitization Platform, and the CFPB we have a unique view into the true changes that are occurring related to the standardization in our industry.
We continued our work in the MERS compliance arena and have enhanced our offerings to include training, technology, and our traditional audit functions. Related to CFPB, we have assisted our clients with preparation for audits. Additionally we have helped our clients understand the nuances of what needs to be in place to do business with Freddie Mac, Fannie Mae, and FHA. Our depth of knowledge in this area provides our clients with quick and targeted engagements that provide them with the exact information that they need to be ready to conduct business.
As the industry is headed towards the adaptation of MISMO standards to reduce processing costs, increase transparency, and boost investor confidence in mortgages as an asset class, industry experts such as Actualize Consulting’s Heather Kerns are active in the MISMO community. Heather Kerns supports the industry’s need for education and training on MISMO standards by participating in the MISMO Education Committee and helping to design and implement the curriculum offered by MISMO. The availability of dynamic and useful training is supporting the industry as the GSEs are moving to a standard for transactions based on the MISMO Reference Model. In addition, Matt Seu member of the MISMO Strategic Planning Committee. Matt has worked closely with the MBA and MISMO to create and launch a Vendor Certification Program that provides service mark seals denoting alignment with MISMO standards. Actualize Consulting is poised to accelerate participation during 2014.
Information Technology
During 2013 we have developed a series of tools and technology solutions related to the integration of mortgage processes and systems. After significant dedication to modern technologies we believe that we have solutions that will lower cost, reduce data interfaces, increase flexibility, and improve controls. We expect to announce more about this mortgage data platform in 2014.
Wellness Program
To promote the health and well-being of the heart of Actualize, our expert and experiences consultants, the firm implemented firm-wide wellness program. The nature of the program is extremely flexible to meet the needs of our geographically dispersed and the travel-oriented nature of consulting work. Each employee is given an annual budget to allocate to wellness needs such as gym membership, specific exercise activities, and health coaching. Our cutting-edge wellness program keeps our employees in top physical and mental condition ready to meet the needs of our client base.
We look forward to working with you in 2014.
Best regards,
Matt Seu and Chad Wekelo
Actualize Partners
