Comergence adds Verus to its client roster
Comergence is providing originator due diligence and monitoring services for correspondent mortgage investor Verus
MISSION VIEJO, CA (February 17, 2015) — Comergence, a provider of third-party risk-management platforms for the mortgage industry, announces that it is now providing its originator screening and due diligence services to Verus, a residential mortgage investor based in Washington, DC. Comergence offers a full suite of hands-on and automated services for mortgage originator and appraiser due diligence and profile surveillance.
Verus, which purchases non-prime mortgage products through correspondent lenders, recently began using Comergence’s REALM for Third Party Originators. REALM is a proprietary platform with a comprehensive database of over 400,000 records on every licensed mortgage originator in the country. REALM 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.
“We’re delighted that Verus chose REALM for Third Party Originators to screen its correspondents,” said Greg Schroeder, president of Comergence. “By using our due diligence and monitoring services, Verus is simplifying its originator approval process.”
“REALM for Third Party Originators not only streamlines our mortgage originator approval process, it also helps ensure Verus is compliant and isn’t missing anything in terms of due diligence,” said Dane Smith of Verus. “Comergence’s comprehensive database and their ongoing alerts allow us to monitor the activities of our correspondents, ultimately saving us time.”
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.