The impact for non-compliance with a hold can be quite severe both financially and legally for Lenders.
Not only is having multiple vendors costly in dollars, but also puts an unnecessary strain on worker productivity.Employees have to:
- Go to different places to find records
- Utilizing different systems for legal holds and different processes for destruction
This is quite risky for you! A company’s failure to properly and promptly impose a legal hold can result in court-ordered sanctions, in the form of both monetary fines and perhaps even a spoilation charge.”
Download this Complimentary eBook and you can learn:
- How to standardize operations and save time
- How to strengthen vendor relationships and have a more positive loan processing experience
- How to minimize the risk of being out of compliance
Simply fill out the form on this page and grab your complimentary copy today!