Lenders One, the national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services managed by a subsidiary of Altisource Portfolio Solutions (ASPS), announced the addition of Mortgage Quality Management & Research as a new preferred vendor.
Through the arrangement, MQMR will offer risk mitigation, third-party vendor compliance and business advisory services for the nearly 275 members of Lenders One.
"As mortgage bankers use more third-party vendors, MQMR's compliance services and vendor and risk management solutions are essential," said Jeff McGuiness, CEO of Lenders One. "The addition of MQMR adds another critical and attractively-priced offering to help our members be compliant with their origination work.
In a release, the companies said that the addition of MQMR as a vendor will help lenders be prepared to meet regulatory demands and help mitigate the risks surrounding the use of third-party vendors through well-designed vendor management processes.
"By partnering with Lenders One, we are able to provide services to lender members that can improve their ability to manage risk in an increasingly regulated marketplace," said Ben Madick, the president at MQMR.
"We look forward to working with Lenders One to help its members use metrics to elevate performance, promote vendor accountability and ultimately improve the borrower experience."