Comergence Providing Originator Due Diligence For Open Mortgage

Posted by Patrick Barnard on March 16, 2015 No Comments
Categories : Residential Mortgage

Comergence, a provider of third-party risk-management platforms for the mortgage industry, is now providing originator screening and due diligence services to Austin, Texas-based Open Mortgage, a retail, wholesale and correspondent lender.

Comergence offers a full suite of hands-on and automated services for mortgage originator and appraiser due diligence and profile surveillance.

Open Mortgage recently began using Comergence's REALM for Third Party Originators. REALM is a proprietary platform with a comprehensive database of over 400,000 records on every licensed mortgage originator in the country. REALM aggregates licensing, criminal and civil records, financial sanctions, bankruptcies and foreclosures, among other critical data.

‘REALM for Third Party Originators has streamlined our mortgage originator approval process, saving us time and money,’ says Greg Block, senior vice president of Open Mortgage. ‘We're also able to monitor the activities of our brokers and correspondents with the ongoing alerts provided by Comergence, which helps ensure we're not missing anything in terms of due diligence.’

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