eMortgage Logic, a provider of residential real property valuations, data and analytics, received a residential vendor ranking from Morningstar Credit Ratings.
According to a release from Morningstar, the ratings agency assigned a ‘MOR RV1’ residential vendor ranking to eMortgage Logic as a residential vendor in the asset valuation market.
Morningstar also stated that its forecast for eMortgage Logic’s vendor ranking is stable. eMortgage Logic is a wholly owned subsidiary of Assurant (AIZ).
In describing its reasons for assigning the ranking to eMortgage Logic, Morningstar cited eMortgage Logic’s “tenured management team, effective technology environment, comprehensive internal performance monitoring, pervasive enterprise-wide risk-management infrastructure, and client-driven performance results.”
Morningstar also said that the stable outlook for its ranking was a result of eMortgage Logic’s ability to call upon Assurant’s resources, specifically shared services such as human resources, training, legal and compliance, information technology, and internal audit.
“Numerous key organizational and technology integrations have already occurred, including an enhancement to eMortgage Logic’s business continuity plan that incorporates geographical redundancy in the event of a business disruption,” Morningstar said in its report.
“eMortgage Logic benefits from a comprehensive quality-control and performance-driven culture within the organization, arising from a solid training regimen, comprehensive policies and procedures, and proactive vendor-management protocols,” Morningstar continued.
“The integration of eMortgage Logic’s business process outsourcing valuation services business with Assurant’s suite of diversified mortgage industry products and services should position the company well for continued growth and market expansion in the valuation services industry,” Morningstar concluded.