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People’s Home Equity Partners Up With Comergence

NationalMortgageProfessional.com
Oct 20, 2014

Comergence, a provider of third-party risk-management platforms for the mortgage industry, has announced that it is now providing its originator screening and due diligence services to People’s Home Equity Inc., a full-service mortgage lender based in Brentwood, Tenn. Comergence offers a full suite of hands-on and automated services for mortgage originator and appraiser due diligence and profile surveillance.

People’s Home Equity 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.

"With REALM for Third Party Originators, People’s Home Equity is simplifying its originator approval process and making it more efficient,” said Greg Schroeder, president of Comergence. “By using our due diligence and monitoring services, People’s Home Equity is also showing its commitment to quality control and regulatory compliance. We’re delighted to add them to our growing client base.”

“REALM for Third Party Originators has streamlined our mortgage originator approval process, saving us time and money,” said Mike Lee, vice president, wholesale division at People’s Home Equity. “We’re also able to monitor the activities of our brokers and correspondents with the ongoing alerts provided by Comergence, which helps ensure we’re not missing anything in terms of due diligence.”

 

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