New York-based mortgage financial consulting company RRMS Advisors announced that it has begun working with clients interested in getting involved in the Private Loan Securitization (PLS) market.
RRMS has collaborated with key players in the mortgage industry to develop metrics and key performance indicators (KPIs) to monitor performance and establish full transparency across all areas of the industry from mortgage originators to issuers to trustees to loan servicers. RRMS has created SROs (Self-Regulatory Organizations) that act as independent "traffic cops" and are capable of performing independent and ongoing self-audits, which help companies adopt best practices and promote standardization.
According to the company, the key to reviving the PLS market is building trust through a third-party surveillance monitor that is objective and non-aligned and focuses on active performance metrics. The RRMS audit function has assisted several mortgage finance organizations in building a culture that fosters investor confidence by using a complete oversight and self regulatory audit function.
Since it was founded in 2008 as a direct response to the U.S. housing crisis, RRMS has provided advisory, consulting, and regulatory compliance/audit support services to a diverse set of mortgage professionals nationwide. The company was created as an affiliate of the Response Companies, which has been a mortgage finance consulting leader for more than 28 years.