Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Vendorly, a SaaS vendor oversight platform, announced a collaboration with third-party risk management source Shared Assessments to license the Standardized Information Gathering, or SIG, Questionnaire.
The SIG Questionnaire provides standardization and efficiency in performing third-party risk assessments and is now available for Vendorly clients to access the industry-standard list of questions, based on the risk profile of their vendor engagement, according to a press release.
“Vendor management is becoming increasingly complex, covering more and more areas,” said Jim Vaca, senior vice president of Vendorly. “By recognizing the pain points experienced by the customers and vendors we work with, we felt a need to bring additional efficiency to both. So often our clients and prospects ask for guidance on the right questions to ask, even something as simple as how long the questionnaire should be. The standardization of questionnaires is long overdue and we are excited to be offering the Shared Assessments SIG Questionnaire to our clients.”
Fannie Mae announced that it is releasing an update to its Desktop Underwriter for government loans program during the weekend of Feb. 16. The update supports announced Veterans Administration updates in VA Circular 26-18-30, which include loan-to-value changes on refinanced loans and new VA messaging, according to Fannie Mae.
Mortgage due diligence provider Opus Capital Markets Consultants has selected ComplianceEase’s ComplianceAnalyzer to test underwriting and RMBS issuance compliance, according to the companies.
“Opus CMC is committed to providing customer-centric risk management solutions to the financial services industry,” Peter Butler, executive managing director at Opus CMC, said. “By enhancing our residential due diligence review services with ComplianceAnalyzer, a comprehensive compliance auditing solution for the mortgage industry, coupled with our proprietary rules, we are confident that we will be able to help our clients minimize compliance risk even more effectively and efficiently.”
“With mortgage volume expected to remain flat in 2019, many in the industry are beginning to look for ways to reduce costs—but compliance should not be on the chopping block,” said John Vong, president of ComplianceEase. “It speaks volumes about the importance of regulatory compliance, as well as the quality of our technology, that we have been selected by one of the premier due diligence firms tasked with reviewing the mortgage quality for sale and securitization transactions.”