“This integration will reduce total acquisition time by several days, enhance loan quality and provide clients with additional, real-time information on loan status,” said Lance Thoet, Managing Director at mTrade.
As a result of this integration, Recovco’s clients will have access to real-time information on loan status throughout the purchase and due diligence process via mTrade’s Clean Room. In addition, mTrade’s clients gain ready access to Recovco, a fully affirmed Third-Party Reviewer for residential mortgage-backed securities (RMBS) and a National SAFE Act licensed fulfillment provider.
“By integrating Recovco onto the mTrade platform, we can collaborate with Clean Room users, and our clients can now send us bulk files electronically, quickly and with the data already normalized and extracted,” said Craig Pino, President of Recovco. “Clean Room allows for seamless and real-time exchange of loan files and due diligence findings between Recovco and our clients’ platform, resulting in greater efficiency and accuracy.”