Vendorly Broadens Vendor Management Methodology to Incorporate Third-Party Originators
Altisource Portfolio Solutions S.A. (ASPS)
Last altisource portfolio solutions s.a. earnings: 4/30 06:59 am
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Source: GlobeNewswire
A more streamlined process complements existing vendor management programs LUXEMBOURG, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Vendorly, an innovative vendor oversight platform for financial institutions, today announced the launch of a third-party originator (TPO) oversight program for mortgage lenders to streamline the broker vetting process and create a central repository for due diligence documentation. The program further enhances the Vendorly™ third-party risk management (TPRM) methodology and complements mortgage lenders’ existing vendor management programs. The mortgage lending industry has seen significant growth in the number of mortgage brokers since the financial crisis. With this growth, lenders who utilize these brokers as TPOs have to ensure that the brokers are properly vetted and qualified. Overall, the broker application process can be complex and may include the review of multiple data points before a broker can become approved and begin submitting loans. Vendorly’s T
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