The StoneHill Group, a service provider to originators, and the Capital Markets Cooperative announced a strategic alliance to allow CMC’s members to access StoneHill’s services. Stonehill offers quality control and auditing abilities once the mortgage has closed. The move reflects a growing demand for niche-specific loan level information from the secondary markets and follows calls for greater mortgage finance transparency in general. Stonehill is a nationwide provider of due diligence and FHA insuring services. CMC provides various cost reducing services to mortgage bankers, usually through the optimization of operating expenses, thereby pushing profits at those firms higher. “Our team has direct experience in the origination, underwriting, closing, post-closing, sales and administration of file assets,” said David Green, president of The StoneHill Group. “It’s a win-win for both companies to leverage our collective relationship resources.” Write to Jacob Gaffney. The author holds no relevant investments.
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