Vendorly Unveils New TPO Oversight Program

Dec 11, 2019

Vendorly has announced the launch of a third-party originator (TPO) oversight program for mortgage lenders to streamline the broker vetting process and create a central repository for due diligence documentation. The program further enhances the Vendorly third-party risk management (TPRM) methodology and complements mortgage lenders’ existing vendor management programs.

Vendorly’s TPO oversight program helps an organization’s internal risk and broker approval department automate and streamline the broker approval process with the use of an electronic broker questionnaire package that is sent and tracked from the Vendorly platform.

“Vendorly created this service based on our deep understanding of the mortgage process to better assist our clients in the mortgage origination space,” said Steve Greenfield, CMB, director of operations, Vendorly. “Understanding the risks of the organizations you are doing business with is critical to making optimal risk-based decisions when working with the broker community. Each lender may have different TPO approval requirements and our approach to the TPO vetting process is customizable to our clients’ needs.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Dec 11, 2019

Analysis and Data

High Home Prices Not Translating To Higher Seller Profits

Average profit margins decline for second year in a row, with Florida sellers hit hardest

According to ATTOM’s Year-End Home Sales report, 2024 marked the second consecutive year of declining home sale profits, falling to 53.8% in 2024 from 56.9% in 2023. Median seller profit for 2024 was $122,500 per home sale. Although an average of $122,500 is nothing to s...

People On The Move

Andy Ward Joins Guaranteed Rate Affinity As Originating Manager

Ward touts the company's access to more than 2,000 mortgage programs

Guaranteed Rate Affinity, exclusive partner to Coldwell Banker, today announced that Andy Ward has joined the company as an Originating Manager in Cottleville, Missouri. Ward brings 25 years of experience in the mortgage business to the role. "Andy is a great addition to ...