NetMore America Picks Comergence For TPO Approval Process

Posted by Orb Staff on February 12, 2010 No Comments
Categories : Residential Mortgage

Walla Walla, Wash.-based mortgage banker NetMore America Inc. has engaged Comergence Compliance Monitoring (Comergence), a due diligence solution provider, to manage all reviews and continuous profile monitoring of all third-party originators (TPOs) working with NetMore.

Comergence, which is based in Orange, Calif., provides due diligence, management and compliance surveillance services. Through a standardized industry best-practices process, Comergence delivers lenders information on mortgage brokers, including a robust background check of any TPO applying to do business with a mortgage lender, the company says.

The multifaceted check includes a 50-state license status and derogatory review, industry sanctions reviews, Social Security number verification for authorized principals, Patriot Act compliance, civil and criminal convictions, business credit, address verification, bankruptcies, as well as liens and judgments search.

SOURCES: NetMore America, Comergence Compliance Monitoring

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