Mortgage Delivery Specialists (MDS) and Indecomm-Mortgage Dynamics (IMDI) have formed a strategic alliance.
IMDI will immediately start to incorporate the use of MDS' mortgage servicing analysis product into its suite of mortgage servicing solutions.
MDS' mortgage servicing analysis product evaluates mortgage data points for errors, inconsistencies and other identifiers that may signal data and/or process issues. It allows a due diligence team to focus on the most critical areas of a loan portfolio, servicing portfolio or operational review.
"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 (MSRs). We feel the alliance addresses this need,” said MDS Principal Kent Loehrke.
IMDI conducts various lender reviews such as assessing mortgage servicing operations to determine whether the servicer meets industry standards in protecting the value of the loans.
Its servicing operation due diligence review involves all functional areas of the servicing operation, including customer service, payoffs and assumptions, cashiering, investor reporting, default administration, servicing sales and transfers, and escrow areas (mortgage insurance, hazard and optional insurance and taxes).
MDS was formed from a select group of industry professionals specializing in mortgage loan analysis and agency MBS delivery services.
IMDI has been offering consulting services to the mortgage industry since 1987. Its full line of services include business planning, litigation support, merger & acquisition services, process reengineering and outsourcing solutions.