Mortgage Delivery Specialists LLC (MDS), a provider of Fannie Mae, Freddie Mac and Ginnie Mae Mortgage Delivery Services and Mortgage Servicing Rights (MSR) Acquisition Due Diligence Analysis Services and Indecomm-Mortgage Dynamics Inc. (IMDI), an Indecomm Global Services (IGS) Company and one of America's leading mortgage banking management consulting and outsource services firms, have announced they have formed a strategic partnership. IMDI will immediately begin incorporating the use of MDS' mortgage servicing analysis product into its comprehensive suite of mortgage servicing solutions.
"This partnership has been many years in the making," said MDS principal, Kent Loehrke. "The MDS team has worked with IMDI personnel on a variety of projects over the years and the relationship has continued to grow through Indecomm's purchase of IMDI."
MDS' mortgage servicing analysis product evaluates mortgage data points for errors, inconsistencies and other identifiers that may signal data and/or process issues. It allows a due diligence team to focus on the most critical areas of a loan portfolio, servicing portfolio or operational review.
"We have seen many new, non-traditional buyers of mortgage servicing rights entering the market recently that do not have the necessary in-house expertise to conduct a full scale servicing operational due diligence review when purchasing bulk mortgage servicing rights (MSRs). We feel the partnership addresses this need," said Loehrke.
IMDI conducts a variety of lender reviews including assessing mortgage servicing operations to determine whether the servicer meets industry standards in protecting the value of the loans. Its servicing operation due diligence review covers all functional areas of the servicing operation including customer service, payoffs and assumptions, cashiering, investor reporting, default administration, servicing sales and transfers, and escrow areas (mortgage insurance, hazard and optional insurance and taxes).
"Utilizing MDS' analysis product, we are able to strengthen our ability to perform our servicing operation reviews and identify potential problem loans requiring correction or special servicing requirements within a client's organization," said Jan Ulsch, senior vice president of Indecomm - Mortgage Dynamics, Indecomm Global Services. "Mortgage portfolio data is analyzed with the MDS product providing us with summary and loan level reports that help us to perform file selections and identify potential problem areas before conducting any on-site due diligence work."
For more information, visit www.mortgagedelivery.com.