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Comergence Compliance Monitoring, LLC
Comergence Compliance Monitoring Launches TPO Management and Compliance Monitoring Service to Help Thwart Broker-Assisted Fraud
October 12th, 2008
Comergence Compliance Monitoring, LLC, provides wholesale lenders a first-in-industry, outsource solution for third party originator due diligence and license compliance monitoring. Greg Schroeder, president, stated, "Most of the mortgage brokers in the industry are solid performers with strong credentials. However, industry studies show that for any given lender, 9-12% of their brokers are responsible for nearly 100% of their loan fraud. It is this group of bad actors that we help lenders weed out, and keep out, of their business. The key to our model is that we enable lenders to identify these risky brokers before they start submitting files - not after the damage is done."...
Source: Pharma Investments, Ventures & Law Weekly (2008-10-12)
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