NEW YORK, Aug. 14, 2014 /PRNewswire/ -- National due diligence, quality control and mortgage fulfillment provider RECOVCO has earned the approval of global rating agency DBRS following a rigorous on-site review of infrastructure, staff and capabilities. RECOVCO joins the small handful of due diligence companies that have made this prestigious list.
"Transparency and access to detailed reports and assessments is vital so investors can select a due diligence provider with a high level of confidence," commented Randy Lightbody, RECOVCO's chief executive officer. "This affirmation of our processes, staff and capabilities is a testament to the hard work and dedication of the entire company and positions us for continued growth. To earn approval from such a respected agency certainly is a feather in our cap and we appreciate the recognition."
In order to earn a place on the list, DBRS prepares in-depth reports based on audits that include thorough examination of the following:
-- Principals' market experience
-- Underwriting staff experience
-- Ability and tools to accurately interpret compliance statutes
-- Quality control procedures
-- Software (compliance, valuation, anti-fraud, data checking, etc.)
-- Disaster recovery procedures and testing
-- Systems and data checking capabilities
-- Security measures to ensure compliance with consumer privacy laws.
RECOVCO, headquartered in East Meadow, NY and with offices in Irving, TX, Orlando, FL and Las Vegas, NV, touches over 8,000 files per month, providing fulfillment, due diligence, servicing solutions, valuations, quality control, and forensic auditing services that banks, mortgage companies and insurance companies use to ensure the loans of today and the past are pristine, free of possible repurchase issues, and in compliance with all current laws and regulations.