Houston-based Integrated Mortgage Solutions (IMS), a collateral protection resource for the mortgage servicing industry, has received its SAS 70 Type I certification from Washington, D.C.-based DuPont & Morgan LLP for control objectives and activities throughout the organization. SAS 70 is the authoritative guidance that allows service organizations to disclose their control activities and processes to their customers and their customers' auditors in a uniform reporting format.
According to IMS, a SAS 70 examination signifies that a service organization has had its control objectives and control activities examined by an independent accounting and auditing firm.
In addition, the company plans to complete a SAS 70 Type II certification within the next six months. With a SAS 70 Type II audit, IMS' operational controls will undergo extensive testing for a period of six months.