MDMC Completes SAS70 Type II Audit

Posted by Orb Staff on March 03, 2009 No Comments
Categories : Residential Mortgage

MDMC, a provider of mortgage loan due diligence and agency delivery services, has successfully completed a SAS70 Type II Audit for the audit period July 1, 2008, through Dec. 31, 2008. The independent audit was conducted on MDMC's general controls supporting the due diligence underwriting and securitization services and resulted in a report without an exception.

A SAS70 audit provides an independent check of controls that MDMC established to ensure that its specific security objectives are met. The firm that performed the audit has issued a report stating that the controls placed in operation were suitably designed to provide reasonable assurance that the objective would be achieved and that the tests performed on these controls were operating with sufficient effectiveness.

SOURCE: MDMC

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