Secure Settlements Inc. (SSI) announced that it had entered into a multi-year exclusive agreement with Maverick Funding Corp. (Maverick Funding) for the SSI Closing Guard and Vendor Check vendor management and risk monitoring products and services. Maverick Funding, headquartered in Parsippany, New Jersey, is recognized as an industry leader in mortgage services throughout the United States.
The SSI and Maverick Funding relationship will encompass comprehensive risk evaluation, reporting and ongoing monitoring for all closing agents handling Maverick’s residential mortgage loans nationwide. The program is being rolled out by region beginning this month following several months of discussions, negotiations, vendor management approvals, and onboarding. Maverick will also use the SSI tools to evaluate and monitor all of their third party relationships. The contract is the latest in a series of written service agreements reached by SSI with mortgage lenders, credit unions, national and community banks around the Country.
“We are honored to have been chosen as the exclusive vendor for these critical risk management vendor evaluation and reporting services," said SSI President Andrew Liput. "The agreement reflects Maverick Funding’s commitment to quality control, consumer protection and overall loan quality assurance. We are proud to be their partner in that endeavor and look forward to a long and mutually beneficial relationship.”
“We are committed to compliance and good risk management when it comes to third party service providers," said Ralph Vitiello, CEO of Maverick Funding Corp. "Settlement agent quality control means greater loan quality assurance to our investors and the GSEs. We also care about our borrowers and know that consumer protection is a critical part of every lender’s enterprise risk management platform. After careful consideration, we found the SSI program to be the most comprehensive and efficient tool to enhance our operational needs.”