Consumer finance

Call recording & speech analytics can enhance regulatory compliance and redefine the customer experience In this paper, we discuss how financial institutions can use call recording and speech analytics to deliver long-term value in the following three key areas: Strengthening regulatory compliance; Improving the customer experience across all channels; and Enhancing fraud detection and prevention. Read more

CFPB Mortgage Servicing Standards: Analysis for RESPA (Reg. X) and TILA (Reg, Z) final rules In this joint Point of View from our Consumer Finance & Financial Services Regulatory Group, we provides our insights into key provisions of the new servicing rules both under RESPA and under TILA, including the relationships between the final rules and the rules as proposed. We also provide our perspectives on the operational impacts servicers face integrating compliance with each new provision into their servicing operations. Read more about the proposal and PwC's point of view

CFPB “Ability-to-Repay” standard An analysis of the Consumer Financial Protection Bureau’s Ability-to-Repay and “Qualified Mortgage” rule. On January 10, 2013, the Consumer Finance Protection Bureau (CFPB) issued its much anticipated final “Ability-to-Repay” rule. Lenders have 12 months to implement the new requirements, which become effective January 10, 2014. Read more

Private Student Lending: The challenges and opportunities in the Consumer Financial Protection Bureau’s annual report This point-of-view describes the 5 “forward-leaning” actions PSL industry participants should consider as part of their plan for future success. Read more

Inside the Valuation Nexus: Strengthening your valuation program to help limit losses, reduce costs, and deliver a positive customer experience This viewpoint helps clients to understand the best practices around managing your property valuation process. Read more

Superstorm Sandy: Consumer finance industry perspectives This viewpoint helps clients to understand the best practices in response to and potential ramifications of the damage caused by Superstorm Sandy. Click to read this important news alert

California homeowner bill of rights: Are you ready? This viewpoint helps clients to understand the details and potential ramifications of the California Homeowner's Bill of Rights. Read about the additional requirements for mortgage servicers

A familiar foe: Combating a new wave of mortgage fraud Mortgage fraud reports rose 31% in 2011, costing the industry $3 billion as fraudsters have changed their target from loan origination to default servicing, loan modifications, short sales, and property liquidations. This point-of-view describes the 10 steps each mortgage company should consider taking to combat mortgage fraud. Find out more about combating mortgage fraud

Successful integrations: Mergers and integrations in consumer finance companies This point-of-view will help companies to assess their integration plans and can help to provide leading practices and a framework to help prevent common pitfalls. Read the details in this report

CFG update: Inaugural edition
PwC's online newsletter CFG Update provides a review of current and upcoming developments impacting all aspects of consumer finance to help consumer finance companies identify prepare for challenges and risks to their business, as well as present opportunities and bring PwC's perspective to the issues of the day.
Read the inaugural edition

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In the current environment, requesting assistance from industry experts allows for risks to be mitigated through the use of focused professionals who are adept at isolating issues, benchmarking practices, and developing innovative solutions to complex business problems.

The Consumer Finance Group is composed of over 170 professionals across the country dedicated to solving complex business problems for clients in the consumer finance sector. Our focus is on mortgage banking and other forms of consumer credit (including Auto, Credit Cards, and Student Lending), which means we are at the forefront of the industry working with our clients to anticipate, understand and resolve emerging issues. Our group’s collective knowledge is invaluable at a time when profits are under pressure, monitoring of risks is more difficult, and gaining an edge over the competition is more challenging than ever. In response to these and other challenges, we can assist our clients in the following ways:

• Risk-based process diagnostics and benchmarking (e.g. default, collections, REO)
• Due diligence and post-merger integration assistance
• Cost Management
• TDR accounting and loan modification process analysis and support
• Development of loan accounting, finance effectiveness and economics solutions
• Servicing profitability and cash management strategies
• Complying with the latest regulatory reform
• Model validation
• Loan price optimization strategies
• Customer experience and household segmentation strategies
• Assisting with strategies surrounding increasing customer retention, improving cross-sell opportunities and understanding customer values
• Technical accounting assistance
• Providing change management strategies for effective downsizing

Our clients consistently turn to us for help resolving complex business issues in areas such as: Loan production, servicing, capital markets, risk management, regulatory change, finance and accounting. Our detailed subject matter knowledge and regular communication with industry leaders allow us to remain focused on enhancing the core competencies of our clients.

Read the Consumer Finance Group statement of qualifications