CEO on learning from the 2008 financial crisis

“What we’re looking to do is turn this into a more formal network, along with our Omnia product but with getting select members from mortgage companies, banks, heads of operations…to create forums to talk about new laws coming out or trends in testing. I’ve seen forums in groups in other parts of the industry, but what I’ve seen is there’s a lot of discussion but then everyone goes their own way to figure out how to do it.”

The goal is to provide information in a way that ensures consistent execution, Tagra said. To accomplish that, he said that “…In year one 2022, I would like to enroll between 20 to 25 participating parties – a mortgage company or a bank – in this and really build upon that. One of the things that Azimuth brings for everyone is a golden source of regulations, statutes, content – how to execute upon that. There is not another product out there that creates that; you’ll get data sources – like AllRegs, LexisNexis – but in terms of doing something that’s meaningful…that’s something that we bring to the table.”

Read more: How can originators avoid legal pitfalls this year?

Indeed, the company boasts of being “…the first and only company to codify every federal and state law on one platform, forever changing the culture of compliance by automating manual compliance work once performed on paper spreadsheets.”

The CEO said he planned a soft launch of the bolstered product at the MBA’s Servicing Solutions Conference and Expo scheduled from Feb. 22-25 in Orlando, Fla., with an official launch this summer during which another regulatory compliance conference is scheduled. “We’re not going out on a Press release just yet,” he said. “We’re going to identify some of the folks we know in the industry, have a small dinner, and lay out the objectives and how we’re going to lay that out.”



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