Loan Resolution Corporation (LRC) announced that it has successfully completed its SAS 70 Type II certification audit. The new certification comes as LRC continues to take on top-five servicers as short sale clients, and it ensures total security for all client information. Loan Resolution Corporation became fully compliant in 2009 and the company completed the in-depth audit for the SAS 70 Type II in December. The SAS 70—Statement on Auditing Standards No. 70—Type II is the widely recognized auditing standard developed by the American Institute of Certified Public Accountants.
“This new certification is a result of an intense review of all our activities and processes,” said Travis Hamel Olsen, chief operating officer of Loan Resolution Corporation. “It truly separates us from the rest of the pack.”
The new certification focuses on information technology and related processes, including client financial information. In the course of the extensive audit, an independent third party determined that Loan Resolution Corporation demonstrated more than adequate controls and safeguards for hosting and processing sensitive customer data.
In addition to the SAS 70 Type II certification, Loan Resolution Corporation remains fully compliant with the Federal Debt Collection Practices Act and is capable of assisting mortgage servicers with their tremendous volume of delinquencies.
“The SAS 70 Type II certification is only given after a stringent review of all company practices and procedures,” added Olsen. “The SAS 70 gives peace of mind to each and every one of our clients.”
For more information, visit www.LoanResolution.com.