Company provides an innovative solution for lenders to approve and then monitor the compliance of its loan originators
MISSION VIEJO, CA (October 6, 2014) — Comergence, a provider of third-party risk-management platforms for the mortgage industry, has been named a finalist in the Fix-It Award category of the 15th Annual Mortgage Technology Awards.
Sponsored by Mortgage Technology magazine, the Fix-It Award recognizes technology that provides an effective and permanent solution to a specific industry problem, need or channel. Comergence was nominated for its REALM for Third Party Originators, a proprietary platform with a comprehensive, up-to-date database of over 400,000 records on every licensed mortgage originator in the country. REALM for Third Party Originators continuously aggregates critical data such as: licensing, criminal and civil records, financial sanctions, as well as bankruptcies and foreclosures. Because the REALM platform is updated continuously, clients are able to keep current on the status of their third party originators, helping to ensure compliance with state and federal regulations.
“REALM for Third Party Originators provides an effective solution to the mortgage lending industry’s need for a quicker, more efficient and effective way to approve and then monitor loan originators,” said Greg Schroeder, president of Comergence. “Our platform simplifies the mortgage originator approval process, and our due diligence and monitoring services help our lender clients with quality control and regulatory compliance.”
Because regulators hold lenders responsible for the regulatory transgressions of their third party loan originators, lenders need comprehensive, timely and accurate information on originators, Schroeder explained. “Comergence designed REALM for Third Party Originators to provide lenders an automated way to ensure compliance with every originator, every day” he said.
The winners of the 2014 Mortgage Technology Awards will be announced at the 15th Annual Mortgage Technology Awards Ceremony on Sunday, October 19 in Las Vegas.
"We are delighted and honored to be named a finalist for this important award," said Schroeder.
About Comergence
Comergence is a risk management firm specializing in mortgage originator and appraiser due diligence and profile surveillance. Comergence offers a full suite of hands-on and automated services for screening and compliance monitoring. The company has compiled a comprehensive database of 400,000+ records on every licensed mortgage originator plus 100,000+ licensed and active appraisers in the U.S., along with aggregated and appended industry-specific data that provides clients with crucial information for proper third party risk management. For more information about Comergence Compliance Monitoring, visit www.ComergenceCompliance.com or call 714-489-8860. The company can also be followed on Twitter at @comergence.