Comergence has announced that it is now providing its originator screening and due diligence services to Privlo Wholesale, a provider of private real estate loans for high-quality borrowers with non-conforming credit characteristics. Comergence offers a full suite of hands-on and automated services for mortgage originator and appraiser due diligence and profile surveillance.
Privlo recently began using Comergence’s REALM for Third Party Originators, a proprietary platform with a comprehensive database of over 400,000 records on every licensed mortgage originator in the country. REALM aggregates critical data such as: licensing, criminal and civil records, financial sanctions, as well as bankruptcies and foreclosures. Because the REALM platform is updated continuously, clients are able to keep current on the status of their third party originators, helping to ensure compliance with state and federal regulations.
"Privlo Wholesale is streamlining its originator approval process by using REALM for Third Party Originators,” said Greg Schroeder, president of Comergence. “We’re delighted to add Privlo to our growing client base. By using our due diligence and monitoring services, Privlo has demonstrated a strong commitment to quality control and regulatory compliance.”
“REALM for Third Party Originators is simplifying our mortgage lender approval process, making it more efficient and saving us money,” said Tamara Lewis, vice president of operations with Privlo. “We especially like the ongoing alerts provided by Comergence. The alerts monitor the activities of our originators to help make sure we haven’t missed anything.”