Kroll Offers Third Party Verification to Mitigate Mortgage Risk

Loveland, Colorado-based ""Kroll Factual Data"":http://www.krollfactualdata.com, a provider of business information solutions to mortgage lenders, property management firms, and financial organizations, announced on Wednesday the addition of Third Party Verification (TPV) as an expanded service offering. The company said that its TPV solution addresses the growing need of lenders, servicers, and financial institutions to obtain an unbiased verification of information to mitigate mortgage loan risk.
Kroll Factual Data, a subsidiary of the risk consulting firm ""Kroll Inc."":http://www.kroll.com, explained that as a third-party service provider that is financially uninterested in the transaction process, it provides unbiased, manually verified information. The TPV component of its solution is designed to improve the quality of loans processed and increase the safety and soundness of the transaction.
James Donnan, president of Kroll Factual Data, added, ""As the needs of the industry are changing, Kroll Factual Data continues to deliver solutions that help our clients add to the bottom line. By utilizing our Third Party Verification services, clients are able to implement a variable cost solution, raising efficiency and increasing profitability.""
Kroll Factual Data helps mortgage professionals verify borrower identity, employment, assets, tax information, and any outstanding liabilities. The company said that it assumes responsibility for the work and accuracy of verifications, allowing clients to transfer risk, while producing quality loans faster.