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Comergence Compliance has announced that it is now providing its originator screening and due diligence services to the combined Bayview Loan Servicing and Lakeview Loan Servicing wholesale lending platform, a provider of real estate loans for agency borrowers and high-quality portfolio borrowers who fall outside the narrow conforming credit box. Comergence offers a full suite of hands-on and automated services for mortgage originator and appraiser due diligence and profile surveillance.
Bayview & Lakeview Wholesale recently began using Comergence’s REALM for Wholesale 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 as well as monitor risk.
"Bayview is streamlining its originator approval process by using REALM for Third Party Originators,” said Greg Schroeder, president of Comergence. “We’re delighted to add Bayview to our growing client base. By using our due diligence and monitoring services, Bayview has demonstrated a strong commitment to client experience, quality control and regulatory compliance.”
“REALM for Third Party Originators is simplifying our mortgage broker approval process, adding ease of access, consistency and speed to an already streamlined process,” said Marcella DeCerbo, vice president with Bayview. “We especially like the monitoring and renewal process provided by Comergence. Comergence monitors the activities of our originators and alerts us of any changes and helps us easily renew our customer database with the most updated and current information.”