AllRegs and The Prieston Group Inc. (TPG) have announced a partnership that will offer risk assessment resources to the mortgage industry. Together, the two companies will build on existing tools, processes and resources to provide real-time corporate level risk assessment tools and benchmarks. Research and development, technology infrastructure, product development and various other capital resources will be invested by both organizations to create a new suite of risk assessment resources and benchmarks.
“For over 10 years, I have known the great work that TPG has been providing to the industry,” says Dan Thoms, executive vice president for AllRegs. “The innovative insurance products, statistical knowledge about risk and performance, and legal resources available through TPG are exceptional. We believe that our combined forces, together with our business intelligence tools, industry distribution capabilities, and other AllRegs core competencies will create a suite of powerful new products and services for the mortgage industry.”
AllRegs, founded in 1989, provides guidelines, federal and state compliance, information, forms, content and business intelligence for the mortgage lending industry. Used by virtually all of the top 100 lenders and in various government agencies, products include single and multifamily underwriting and insuring guidelines, as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, policy and procedure manual templates, training opportunities, contract publishing services and a library of historical guidelines.
“For 22 years AllRegs has provided extraordinary tools and resources to the mortgage industry, and we at TPG are excited to begin a valuable and meaningful relationship with such an innovative company,” said Arthur Prieston, chairman of TPG. “We are excited to bring together our resources and provide the mortgage industry with risk assessment tools that will impact the way business is conducted in the future.”
The Prieston Group Inc. (TPG) was founded in 1986 by Arthur J. Prieston, one of the country's foremost experts on mortgage fraud. TPG was the first U.S. company to offer insurance covering repurchase losses due to mortgage fraud and material financial inaccuracy; to date, it has written fraud-insurance coverage on more than one million loans. The company also provides training and consulting services designed to minimize fraud risk and uses a patented lender-rating system to quantify the risk embedded in a lender's underwriting, quality control and review practices. The American Mortgage Law Group PC (AMLG), a mortgage law practice founded in 1981, is a TPG affiliate.