Vendorly Broadens Vendor Management Methodology to Incorporate Third-Party Originators
A more streamlined process complements existing vendor management programs
The mortgage lending industry has seen significant growth in the number of mortgage brokers since the financial crisis. With this growth, lenders who utilize these brokers as TPOs have to ensure that the brokers are properly vetted and qualified. Overall, the broker application process can be complex and may include the review of multiple data points before a broker can become approved and begin submitting loans. Vendorly’s TPO oversight program helps an organization’s internal risk and broker approval department to automate and streamline the broker approval process with the use of an electronic broker questionnaire package that is sent and tracked from the Vendorly platform.
“Vendorly created this service based on our deep understanding of the mortgage process to better assist our clients in the mortgage origination space,” said
“The Vendorly TPO oversight program further strengthens Altisource’s mortgage offering by addressing a significant area of growth in mortgage lending, specifically the independent mortgage broker community,” said
Vendorly is an innovative SaaS vendor oversight platform designed to help financial institutions manage their vendors and meet their evolving vendor oversight obligations. The Vendorly platform can help to streamline vendor due diligence, document maintenance, monitoring and audits. Vendorly is part of the
Michelle D. Esterman
Chief Financial Officer
Britt E. Gottlieb
Senior Manager, Communications
Source: Altisource Portfolio Solutions S.A.