DENVER — Compliance solution provider LenderLive Services LLC (a div. of LenderLive Holdings Inc.) today announced it will now provide expanded services through a new line of business: LenderLive Compliance Solutions. The new entity will offer both bundled and a la carte service to vehicle finance companies, credit unions, community and regional banks.
Maria Moskver, general counsel and enterprise compliance officer for LenderLive, will lead the new business unit, which, according to officials, has developed significant in-house expertise in regulatory compliance, operational controls, systems and industry practices. The company also maintains an extensive template library, including documents relating to vehicle default for all 50 states, pre- and post-repossession notices required by the Uniform Commercial Code and other federal and state laws.
LenderLive, which, according to officials, is used by eight of the Top 10 bank and finance companies in the United States, will continue to offer its compliance solutions bundled with fulfillment and document services to enterprise clients.
In addition, LenderLive Compliance Solutions will now give vehicle finance companies the option to access its compliance solutions a-la-carte, allowing vehicle finance companies, credit unions, community and regional banks to supplement their internal compliance resources with LenderLive’s expertise. These services include:
- Ongoing regulatory monitoring and alerts for regulatory changes at the federal and state level.
- Access and use of LenderLive’s extensive state and federal template library.
- Ongoing template updates and review services.
- Client-focused webinars covering vehicle finance regulations, judicial developments, and decisions.
- Custom research and consulting on regulatory compliance issues, including operational and best practice perspectives, to accelerate implementation times.
“Historically, financial institutions have turned to LenderLive for turnkey solutions that have reduced costs and kept them compliant,” said LenderLive CEO Rob Clements. “What we are doing now is leveraging the embedded expertise we’ve developed and providing financial institutions these services in two distinct ways, helping to create greater efficiencies based on specific needs.”
Originally posted on F&I and Showroom