What does the recent GAO report say about compliance costs?

Compliance is more than a reality – it’s a growing concern. As this American Bankers Association (ABA) Banking Journal article notes, in a recent survey of community banks and credit unions, the Government Accountability Office (GAO) found that the cost of maintaining a compliance function, with all of its related components, is rising – and, in some cases, causing a pullback in those business areas that require regulatory oversight. 

PHH Mortgage understands the costs that go into every loan – especially the need for compliance oversight that continues to grow each day. We are focused on helping companies address that need – for both themselves and their clients.

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Jan 14, 2016