As the mortgage industry continues to shift with the changing economic tides, the demand for risk management and quality assurance professionals has risen dramatically.
With the implementation of several new rules and regulations as part of next year’s mortgage reform, departments dedicated to risk assessment and number crunching are busier than ever. This is good news for anyone in the risk management industry, as the sudden increase in demand could lead to more job openings in the field.
Some of the pending changes involve GSE reform, a proposed merging of Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) forms and changes regarding documentation of high-risk mortgages.
At a recent Mortgage Bankers Association forum, industry members gathered to discuss risk management in the 21st century, while key speakers made a point to express the growing need for quality assurance professionals.
“If there is certainty in any profession in the mortgage finance space, it is in this room,” said MBA president and CEO David Stevens, while speaking to a roomful of professionals at the forum in Dallas.
For further reading:
Pending changes for 2013 mortgage reform:
MBA’s 2012 Risk Management Forum