The National Association of Mortgage Field Services (NAMFS) has created a Compliance Working Group with the goal of standardizing compliance for the mortgage field services industry, and AllyConnect has been confirmed as the first participant and Co-Chair, according to an announcement from NAMFS.
The Working Group plans to reevaluate existing compliance policies on an ongoing basis in order to establish compliance standards and best practices for the industry. The Working Group will be made up of a cross section of the mortgage field services industry that includes mortgage servicers, property preservation companies, and other NAMFS members, according to NAMFS.
“Over the last few years, NAMFS proactively explored many technology-based solutions and found AllyConnect to be a good fit for the challenges our industry faces when it comes to eliminating known compliance gaps and creating an industry standard,” said Adam Miles, President of NAMFS. “We have seen that standardization has many benefits but its immediate impact will be consistent evaluation of all contractor compliance requirements nationwide. NAMFS is also pleased to announce that the Board of Directors has approved a free subscription to AllyConnect for all members in 2017.”
AllyConnect, the first confirmed member and Co-Chair of the Working Group, offers a vendor compliance management platform.
“AllyConnect provides a robust Cloud-based solution that provides 100 percent contractor network transparency and solves current compliance challenges. AllyConnect intelligently leverages technology in such a way that our customers will be able to both change compliance requirements with a click of a button and they will also be able to tie compliance to workflow in real time, neither of which was possible until now,” said AllyConnect CEO Steve Salimbas.