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Vendor Aids ARM Deals.(Technology)
Santa Ana, CA-First American Outsourcing and Technology Solutions here has developed a new auditing solution designed to reduce the cost and risk of servicing, acquiring and selling adjustable-rate mortgage loan portfolios.
The solution identifies data issues with existing ARM portfolios and can "scrub" loan-pool acquisitions during the transfer and boarding process or as pre-sale due diligence. Unlike competitive auditing programs that only identify data issues, the new service can correct errors uncovered by the audit and re-post the changes to the servicer's system. Specifically, the solution can re-amortize and repair loan files and customer histories and automatically generate corrected borrower loan ...
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Source: HighBeam Research, Vendor Aids ARM Deals.(Technology)