IRVING, Texas, March 5, 2021 /PRNewswire-PRWeb/ -- Bizzy Labs, a regtech company that uses a big data approach to perfect mortgage loan files during loan boarding and throughout the life of servicing, announces the formation of an Advisory Council to help guide the development of its service offerings that address regulatory compliance.
Gagan Sharma, Bizzy Labs' president and chief executive officer, named Buckley Firm's Jeff Naimon, CrossCheck Compliance's Jim Shankle, Sagent's Matt Tully, BSI Financial's Erum Nayani, and the Codilis Family of Firms' Mike Sullivan to be inaugural members of the Council.
The Advisory Council will provide guidance on regulatory trends that affect mortgage loan servicing and software functionality designed to illuminate regulatory risk in loan pools and portfolios.
"We are pleased to announce the formation of our Advisory Council at this critical stage in our industry's evolution," said Sharma. "The financial and reputational cost of noncompliance is increasing, particularly given the impact of COVID 19 and what we expect will be heightened regulatory oversight as COVID forbearance programs are lifted. The Advisory Council will enable Bizzy Labs to develop technology that shines a bright light on compliance risk."
Libretto, Bizzy Labs' flagship application, enhances the coverage and quality of compliance through a data-driven automated approach to detect data anomalies in loan files. Libretto produces a daily checklist of loan improvement actions that can be managed using its online workflows or exported into the client's systems. Libretto is capable of detecting more than 600 types of loan file exceptions during loan boarding, and in primary, default and FHA / Ginnie Mae servicing portfolios and MSR acquisition.
Jeff Naimon is a Partner in the Washington, D.C., office of Buckley LLP, with more than 25 years of experience assisting bank and nonbank financial services providers (and investors in same) with regulatory, enforcement, and transactional matters.
Jim Shankle is a Managing Director at CrossCheck Compliance, LLC with over 25 years of regulatory compliance and internal audit experience in the mortgage industry. Jim has been a frequent speaker at various national and State mortgage professional organizations.
Matt Tully is a Senior Vice President at Sagent, serving as the Chief Compliance Officer & Head of Agency Affairs. He shared that "I am excited to be participating in Bizzy Lab's Advisory Council. The partnership between Bizzy and Sagent is indicative of our mutual commitment to leverage technology solutions to address the compliance needs of servicers."
Erum Nayani is Assistant General Counsel for BSI Financial. In her current position, she is responsible for a variety of compliance and risk management areas, including regulatory compliance, litigation, licensing and audit.
Mike Sullivan, Director of Client Relations and Marketing for the Codilis Family of Firms (IL, IN, MO, TX & WI), has more than 36 years of experience in all areas of default servicing including post-foreclosure claims and default technology initiatives.
Formed in 2020, Bizzy Labs is the product of BSI Financial's decade-long program to develop a technology-based alternative to manual processes that detect loan file anomalies. A stand-alone company providing regtech services to loan investors, originators and servicers, Bizzy Labs' core product, Libretto, improves loan performance and profitability by reducing errors that create compliance risk and servicing challenges. Bizzy Labs is located on the Web at http://www.bizzylabs.tech.
Media Contact
Kunal Mahajan, Bizzy Labs, +1 650.305.8515, [email protected]
Dave Ross, BSI Financial Services, 7147159976, [email protected]
SOURCE Bizzy Labs
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