TheMReport — News and strategies for the evolving mortgage marketplace.
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32 | Th e M Rep o RT Digital Risk Company DesCription Through the successful completion of a $125 billion rigorous loan analysis coupled with a forensic data pool of $1.7 trillion loan reviews, Digital Risk provides scalability, repeatability, and standardization to mitigate the underwriting risk elements that may result in poor performance, regulatory issues, or potential fraud. Digital Risk's autonomous compliance and quality control tool, ComplianceIQ, provides automated regulatory compliance for servicers based upon current requirements: federal, state, MERS, GSE, bankruptcy, and foreclosure. Client-dedicated staff with an average of seven years' experience are extensively trained on federal and state regulations, all investor guidelines, and the client's unique requirements, resulting in faster turn times with precise results. Combined superior analytics, advanced technology, and the highly coveted expertise of Digital Risk's RESPA reform and QM compliance analysts provide world-class due diligence for any transaction volume and loan type. Company History Digital Risk started in 2005 and has grown from five employees to today's 1,850+ USA-based employees. During the last eight years, the company has earned a reputation for providing reliable solutions to mission critical, high-profile initiatives. Digital Risk maintains state-of-the-art operating centers in Maitland, Florida (headquarters); Jacksonville, Florida; Boca Raton, Florida; Denver, Colorado; and Bangalore, India. In December 2012, Digital Risk was acquired by MphasiS, a Hewlett Packard subsidiary. MphasiS is the global leader in the BPO and KPO markets, employing over 40,000 people worldwide. proDuCts anD serviCes • Compliance • Quality control • Pre and post funding • Proprietary LQI quality control package • Mitigating repurchase risk • Due diligence for all securitizations and whole loan trades • Valuations and AMC • Due diligence • Analytics • End-to-end fulfillment aDDeD vaLue to CLients Digital Risk provides business partners new- generation technology with the industry's largest proprietary database of actionable intelligence, providing context and defense around today's highly regulated and complex market. With more than $8 billion in monthly reviews, Digital Risk has developed one of the largest databases and experience sets directly resulting in faster turn times, pristine quality, and transparent visibility across the entire loan life cycle. Deep Dive Reporting and Communication • Monthly trending reports • Individual asset summaries • Audit analysis summary • Top 10 findings report • Training issues by category • Monthly analysis of audit findings • Customized trending reports • Secure project room hosted by Digital Risk or client • Agreements, project plans, meeting agendas and minutes, and project documents • Bi-weekly project team progress calls • Weekly stakeholder update calls • Facilitate subject-matter expert meetings • Working party approvals on key deliverables • Scope protection and change management Key Features • $1.7 trillion in GSE quality control reviews • Largest quality control firm in the U.S. • Largest production of quality control findings in the market space • 10 million cases of misrepresentation reviewed • Proprietary intelligence deployed • Database comprised of $1.7 trillion in GSE QC reviews • State-of-the-art technology, proprietary techniques to solve new legislation • Pre and Post Funding • Regulatory compliance department • In-house staff attorney team • RESPA reform expertise • QM expertise • QRM expertise • Maintain proficiency with all federal and state compliance laws • $750 billion (UPB) under management Key Features Since its founding in 2005, Digital Risk has had one focus; making mortgages safe. The company succeeds in this by following DAPPT (Data, Analytics, People, Process, and Technology). GoaLs anD strateGies For 2014 The company's goal is to provide an effectively differentiated solution for the entire loan life cycle that provides smooth regulation compliance and faster turn times without sacrificing quality. key personnel Peter Kassabov Founder and CEO Alex Santos Co-Founder and President Jeffrey C. Taylor Co-Founder and Managing Partner Omar Quddus COO Randy Lightbody EVP Sales, Marketing and Strategy staffing More than 1,850 USA-based full-time employees contact information 2301 Maitland Center Parkway Suite 165 Maitland, Florida 32751 phone: 888.500.RISK Web: digitalrisk.com Special Advertorial Section ComplianCe Company Guide