Comergence is providing originator due diligence and monitoring services for correspondent and wholesale lender Open Mortgage
MISSION VIEJO, CA (March 16, 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 Open Mortgage, a retail, wholesale and correspondent lender based in Austin, Texas. Comergence offers a full suite of hands-on and automated services for mortgage originator and appraiser due diligence and profile surveillance.
Open Mortgage 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.
"With REALM for Third Party Originators, Open Mortgage is simplifying its originator approval process and making it more efficient,” said Greg Schroeder, president of Comergence. “By using our due diligence and monitoring services, Open Mortgage is also showing its commitment to quality control and regulatory compliance. We’re delighted to add them to our growing client base.”
“REALM for Third Party Originators has streamlined our mortgage originator approval process, saving us time and money,” said Greg Block, senior vice president of Open Mortgage. “We’re also able to monitor the activities of our brokers and correspondents with the ongoing alerts provided by Comergence, which helps ensure we’re not missing anything in terms of due diligence.”
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 http://comergencecompliance.com/2015/ or call 714-489-8860. The company can also be followed on Twitter at @comergence.
About Open Mortgage
Open Mortgage is a Retail, Wholesale and Correspondent Lender offering automated tools, cutting-edge technology and excellent customer service. Every great athlete has a great coach, and at Open Mortgage we can provide the tools and personal support to help you grow your origination business. We offer a wide variety of mortgage products to meet all of your lending needs including conventional, FHA, USDA and VA loans, as well as, reverse mortgages. We are also licensed in more than 30 states nationwide. For any of these types of mortgages, or for answers to questions about existing mortgages, contact one of our branches, or contact us at Headquarters in Austin, Texas.