Aklero Process Solutions, a provider of automated data and document validity assurance for the mortgage industry, and Hall Underwriting & Consulting, a mortgage risk analysis firm, have merged to form a new company, Aklero Risk Analytics Inc. The result of this merger is a state-of-the-art loan quality and risk analytics company, combining Aklero’s Q-Close loan quality and risk analytics platform with Hall Underwriting’s experienced mortgage loan quality analysts and forensic underwriters.
Under the terms of the merger, Aklero Process Solutions and Hall Underwriting & Consulting will each remain wholly-owned subsidiaries of Aklero Risk Analytics. Aklero Process Solutions President and CEO Brian Fitzpatrick will serve as CEO of Aklero Risk Analytics and Hall Underwriting CEO Clayton Greenfield will serve as president and chief operating officer.
“This merger is symbolic of what the mortgage industry needs to properly analyze risk and ensure loan quality: A combination of experienced forensic analysts and intelligent automation,” Fitzpatrick said. “Loan quality is the keystone to the industry’s recovery. As a result of this merger, we’re now uniquely positioned to set the bar when it comes to ensuring loan file integrity and mitigating mortgage risk. We look forward to working with players of all segments of the mortgage industry who share our goal.”
“The integration of our expert underwriting and forensic analysis staff with Aklero’s automated deficiency detection and risk analysis tools have enabled Hall Underwriting to take its underwriting and quality audit services to a whole new level. There are several companies out there that can underwrite and perform mortgage loan quality control audits, but the combination of this unique technology and our expert analysts creates a solution that quite frankly is unprecedented in this industry and trumps the competition,” said Greenfield.
Founded in 2007, Aklero Process Solutions is a provider of automated loan file deficiency detection services and solutions for the mortgage lending industry. Aklero’s Q-Close loan quality and risk analytics platform electronically classifies mortgage loan files and extracts over 800 key data elements, while verifying the data’s accuracy and the completeness and accuracy of individual mortgage documents in the loan file. All data is validated for compliance as well as consistency with the LOS data feed and other data elements within the loan file. Unlike traditional loan quality and verification solutions that rely on manual error prone “checklists” and processes and offer limited information, Q-Close delivers a multi-dimensional review at various steps in both pre- and post-closing and provides real information that users can leverage to take action, including whether a particular branch is having recurring quality issues, or whether a particular underwriter requires additional oversight. The result is cleaner loans at a lower cost than traditional loan review processes.
Hall Underwriting & Consulting is a risk analysis firm established in 1989 to provide mortgage loan file due diligence for Wall Street firms, banks, and other investors that were purchasing loans from the Resolution Trust Corporation (RTC). Since that time the company has expanded its service offerings to include multiple levels of mortgage loan underwriting and forensic analysis for both pre- and post-purchase reviews of loan files as well as mortgage quality control audits for a multitude of lenders throughout the country. Its products and services are customizable and can be tailored to suit each client’s individual needs.
For more information, visit www.Aklero.com.
