Veros Real Estate Solutions (Veros) has announced that Lenders Compliance Group will be utilizing its collateral integrity analysis (CIA) product for pre-funding and post-closing audits, early payment defaults, high default due diligence, as well as warehouse bank and portfolio reviews. One of the most comprehensive risk reports available, CIA utilizes the latest technology to analyze, detect and accurately identify high-risk transactions while minimizing costly false positives. The solution aggregates multiple data sets from an extensive range of vendors to provide the necessary information to evaluate risk exposure into a single report that is both easy to read and use.
“We are pleased to integrate CIA with Lenders Compliance Group in order to give them the highest level of risk and fraud analysis for their clients,” said David Rasmussen, senior vice president of operations for Veros. “This tool enables their loan analytics group to instantly measure the various risks associated within a transaction. It will replace the need to leverage multiple data sources and immediately strengthen their level of mortgage compliance.”
Lenders Compliance Group focuses exclusively on regulatory compliance issues that directly affect residential mortgage loans and actively monitors laws and regulations in the industry. Clients include mortgage bankers, mortgage brokers, mortgage REITs, banks, credit unions, correspondent and wholesale lenders, servicers, and warehouse banks, among others.
"The collaboration between Veros and Lenders Compliance Group is timely for my firm, inasmuch as we have sought to implement a reliable technology that provides statistically significant data about collateral valuation,” said Jonathan Foxx, president and managing director of Lenders Compliance Group. “For instance, clients retain us to provide a better understanding about loan performance and remedial action, and Veros’ CIA solution enables us to combine unique valuation findings with our own loan analytics and regulatory reviews."
The market-proven metrics found in CIA provide a comprehensive snapshot of market conditions and includes a subject risk score, market risk score, and collateral integrity score.