Interthinx and Decision Ready Solutions announced they have formed an alliance to offer joint quality control (QC) and quality assurance programs to the servicing industry.
The collaboration will offer a compliance oversight program framework that will help servicers monitor process execution and compliance along the complete end-to-end default timeline, the companies said in a statement.
This latest addition to the Interthinx product suite addresses the need for more stringent default servicing and foreclosure process governance, a weakness cited by federal regulators in the Interagency Review of Foreclosure Policies and Practices, the multistate settlement, and the upcoming CFPB enforcement.
"Our focus on assisting servicers over the past couple of years to better manage enterprise risk aligns well with the Interthinx vision and track record in creating innovative risk management solutions by leveraging their data, analytics, and seasoned review team," said Ravi Ramanathan, chief executive officer for Decision Ready.
"We're excited that Interthinx selected to align their efforts with Decision Ready and look forward to jointly answering the servicing industry's growing needs and demands in the area of quality control."
Kevin Coop, president at Interthinx, said that the joint Servicing QC offering will allow servicers the ability to review their processess for accuracy and policy conformance. "It also helps servicers make process adjustments based on real findings rather than relying on a subjective process," he said.