MassHousing Selects Comergence® Platform for Third Party Oversight and Due Diligence

Comergence is pleased to announce that MassHousing, a Housing Finance Agency (HFA), has selected the company’s exclusive platform for third-party originator (TPO) due diligence and compliance oversight.

MassHousing will use the Comergence platform, considered the industry’s most comprehensive, up to-date, and accurate third-party monitoring platform, to fully automate the agency’s third-party approval and oversight processes.  The Comergence database houses 98 percent of all Nationwide Multistate Licensing System & Registry (NMLS) registrants and covers over 18,000 originating entities across the U.S.

Comergence will fully vet and qualify MassHousing’s new and existing third-party origination relationships. The Comergence platform eliminates manual errors, missed renewal dates and incomplete due diligence efforts.

MassHousing is not a direct originator of its home mortgage products and instead makes loans through 170 partner banks, mortgage lenders and credit unions across Massachusetts.

“We are excited to partner with MassHousing,” said Greg Schroeder, president of Comergence. “Our platform can assist housing authorities by providing a superior, cost efficient, compliant solution that allows agencies to focus on what’s important: bringing affordability and opportunity to underserved communities.”

MassHousing is one of many key correspondent lenders that use Comergence’s cutting edge technology.  “MassHousing is regarded as an innovative industry leader in providing quality home mortgage products and our partnership with Comergence is going to help us improve the accuracy and speed of our lender approval and recertification processes,” said MassHousing Executive Director Timothy C. Sullivan.

The Comergence platform will integrate with MassHousing’s database of record, improving overall efficiency with its partner lenders.  “Comergence has streamlined our workflow and document management with a paperless lender approval process,” said Susan Sheffer, MassHousing’s product development and lender approval manager. “Comergence will improve our efficiency and effectiveness by significantly reducing our lender approval turn times, so we can spend more time focused on approving high quality lenders.”

Comergence Launches 5th Generation of Its Software

Comergence, a provider of third party originator and appraiser Safe Act compliance software systems, premiered the fifth generation of its platform today at the 2015 Mortgage Bankers Association (MBA) conference in San Diego.

Comergence provides a proprietary platform with comprehensive, up-to-date database of over 400,000 records on every licensed mortgage originator in the country. Comergence delivers a fast and efficient way for lenders to approve, monitor and manage their relationships with loan originators.

“Comergence is designed to help lenders comply with the Dodd-Frank Safe Act regulations more effectively and efficiently,” said Greg Schroeder, president of Comergence. “Toward that end, the enhancements to our platform increase the software’s efficiencies, and deliver brand new levels of flexibility. We’re particularly excited that our system can now be used with mobile tablets and smart phones.”

Some of the new key benefits of are:

  • More alerts notices are now available that give lenders the ability to manage and identify risks associated with their organization’s risk appetite or policies.
  • A streamlined, intuitive interface provides better navigation, so users of the system are even more efficient and productive with their time.

“These new features and enhancements significantly increase the utility of our product,” said Schroeder. “As compliance demands increase and shift, lenders look to Comergence to keep them up to date and in compliance with regulations related to Safe Act Compliance. This upgrade enables us to exceed our clients’ expectations.”


 

Comergence Teams with Noted Mortgage and Real Estate Sales Coach Ron Vaimberg

Motivational speaker to conduct educational webinars, training and live events for third-party vendor management company’s customers

Comergence, a provider of third-party vendor management platforms for the mortgage industry, has established a strategic relationship with noted mortgage and real estate industry consultant, motivational speaker and sales coach Ron Vaimberg to provide free training webinars and educational materials as a value-added service for the company’s customers.

Vaimberg is one of the most sought after mortgage trainers in the nation, spending over 150 days a year on the road presenting his success programs.  He works with top sales professionals from some of the nation’s largest real estate franchises, mortgage bankers and national banks.

“Ron’s unique ability to identify his clients’ strengths, weaknesses and untapped opportunities has enabled him to guide them to fast, unprecedented sales growth– and make that process easy,” said Greg Schroeder, president of Comergence. “We’re excited to have him share those skills with Comergence’s customers.”