Stewart Lender Services, a provider of servicing and mortgage origination support services, announced Wednesday the new Servicing Quality Control service offering for mortgage servicers.
Stewart's servicing quality control will be offered through its Capital Markets Group based in Denver.
"Quality and due diligence are at the cornerstone of our business, and we are pleased to expand the offerings from our Capital Markets group to include Servicing Quality Control,” said Jason Nadeau, group president of Stewart. "The launch of this service is timed to address the growing needs of our mortgage servicing customers who are balancing the effect of new rules with the increased levels of scrutiny over servicing operations."
The goal of the program is to satisfy requirements by regulators and investors. Additionally, the service will provide stakeholders with an objective assessment of a servicer's performance.
The program intends to provide visibility into specific risk and compliance areas, as well as the ability to target, research and report on CFPB compliance, state and federal regulations, loan modification programs, escrow accuracy, and foreclosure compliance.
The program also delivers correction and testing of servicing exceptions to demonstrate compliance and satisfy regulatory requirements.