Repossession companies are currently faced with the question of how to ensure compliance for the lender
and for themselves in a time of unprecedented regulation. While the hand of the CFPB has not reached to the
repossession industry as of yet, lenders are requiring more of vendors on a daily basis. Being in compliance is
a very real need in the repossession industry and it has never been more important to show a history of sound
practice within our organizations. Vendors are seeking solutions and in most cases find themselves with more
questions than answers. Confusion and fear prevail amongst a sea of misinformation, ultimately creating a reactive
nature within our industry!
In an effort to alleviate confusion and provide clarity, MBSi has created the Compliance Made Easy™ program.
Compliance Made Easy addresses the four key areas where repossession companies need to be in compliance with
industry regulations:
- Complaint Tracking
- Recurring Training
- Contract Management
- Vendor Vetting
Compliance Made Easy includes three industry-first products from MBSi called Vendor Comply, Training Comply and Contract Comply. It also features partnerships with established companies to
provide Vendor Vetting services.
Vendor Comply
The Vendor Comply Complaint Management System™ automates consumer complaint tracking and management in conjunction with a vendor’s internal assignment management software.
Key features include:
- Real-time Complaint Creation and
Resolution Updates
- Follow-up and Task Scheduling
- Automated Monthly Reporting Service
Read More About
Vendor Comply
Training Comply
The Training Comply Compliance Testing System™ allows lenders and vendors to create compliance and training tests, and automate test administration.
Key features include:
- Multiple Test Creation and Scheduling
- Automated Pre-test and
Post-test Notifications
- Historical and Compliance
Validation Reporting
Read More About
Training Comply
Contract Comply
Contract Comply stores, verifies and manages all vendor relevant information in our secure database including insurance certificates, contracts, licenses, bonds and much more.
Key features include:
- Automated Vendor Notification
- Integrated with lender and vendor internal assignment management software
- Automated Vendor Thresholds
Read More About
Contract Comply
Vendor Vetting Partnerships
Compliance Made Easy has partnered with industry organizations to provide vendor vetting services according to a lender’s specific requirements.
Key features include:
- Site Inspection
- Background Checks
- Training and Certification
- And More
Read More About CME's
Vendor Vetting Partnerships