Incenter Diligence Solutions, a provider of due diligence and document management services for the mortgage industry, has expanded its offerings for the mortgage servicing rights (MSR) trading market. These products complement the trading services provided by Incenter Mortgage Advisors.
“In an active trading market, participants must be able to quickly identify and manage their short-term and long-term risks so that they can transfer assets with agility and seize new revenue opportunities,” says Pamela Hamrick, president of Incenter Diligence Solutions, formerly known as Edgemac. “Incenter Diligence is streamlining the obstacle-ridden diligence processes.”
For each buyer or seller, Incenter Diligence creates a tailored review scope based on seasoning, geography, performance and other key portfolio attributes. The firm also individualizes reporting and document delivery services. This approach encompasses all of Incenter Diligence’s MSR-related services, such as acquisition reviews, data to document validation, compliance reviews, document inventory, trailing document reconciliation, servicing boarding audits, and pay history reviews.
“In today’s high-volume trading environment, buyers and sellers need a diligence firm that can customize reporting in a timely manner,” says Tom Piercy, managing director of Incenter Mortgage Advisors. “Sellers also benefit from a system for maintaining data consistency to ensure that they have all the elements regulators require.”
Loan servicing institutions that are selling the servicing rights to thousands of loans at once need to flag any potential issues that could affect the long-term collectability of these assets. Incenter Diligence’s document management solutions for scanning and automated data extraction utilize advanced technology to rapidly ingest all loan files, scrape critical data from the documents, and identify discrepancies and omissions across them.