Covius, a provider of technology-enabled solutions to the financial services industry, announced today that its Compliance Solutions group has significantly expanded compliance monitoring efforts to help lenders and servicers track the legislative and regulatory developments in response to the COVID-19 pandemic.
Specifically, Covius is now issuing daily client alerts that provide a summary of new COVID-19-related policies. The updates cover:
- Legislative activity in all 50 states, Washington D.C. and Puerto Rico
- Federal, regulatory and investor guidelines
- State court closures
In addition, the group is continually updating all of its template libraries, including its loss mitigation library, to ensure compliance with new disaster and COVID-19-related requirements.
“Our clients rely on our consolidated daily updates to stay informed and to be able to react quickly to any impacts to their processes,” said Jen Keys, VP of Compliance Solutions at Covius. “Given the rapid rate of change, we have expanded our monitoring to include servicing-related news conferences, and even tweets in some instances, because real-time announcements may turn into new policies and guidelines in a matter of days or even hours.”