""Mortgage Delivery Specialists"":http://www.mortgagedelivery.com/ (MDS), a Pewaukee, Wisconsin-based provider of mortgage servicing rights[IMAGE]
acquisition due diligence analysis services, and ""Indecomm-Mortgage Dynamics Inc."":http://www.mortgagedynamics.com/index.html (IMDI), a mortgage banking management consulting and outsource services firm headquartered in McLean, Virginia, recently announced a strategic partnership. As a result, IMDI will immediately begin incorporating MDS's mortgage servicing analysis product into its suite of mortgage servicing solutions.
According to MDS, its mortgage servicing product evaluates mortgage data points for errors, inconsistencies, and other identifiers that may signal data and/or process issues. This, the company said, allows a due diligence team to focus on the most critical areas of a loan portfolio, servicing portfolio, or operational review.[COLUMN_BREAK]
""We have seen many new, non-traditional buyers of mortgage servicing rights entering the market recently that do not have the necessary in-house expertise to conduct a full scale servicing operational due diligence review when purchasing bulk mortgage servicing rights,"" said Kent Loehrke, MDS principal. ""We feel the partnership addresses this need.""
IMDI conducts a variety of lender reviews, such as assessing mortgage servicing operations to determine whether the servicer meets industry standards in protecting the value of the loans. The company said its servicing operation due diligence review covers all functional areas of the servicing operation, including customer service, payoffs and assumptions, cashiering, investor reporting, default administration, servicing sale and transfers, and escrow areas.
""Utilizing MDS's analysis product, we are able to strengthen our ability to perform our servicing operation reviews and identify potential problem loans requiring correction or special servicing requirements within a client's organization,"" said Jan Ulsch, SVP of IMDI. ""Mortgage portfolio data is analyzed with the MDS product providing us with summary and loan level reports that help us to perform file selections and identify potential problem areas before conducting any on-site due diligence work.""