Search
 

Digital Risk Calls For Stronger Mortgage Due Diligence Standards

NEW YORK CITY-Company president and managing director Alex Santos tells GlobeSt.com in an e-mail that the firm has had preliminary discussions with Moody’s to create a “task force” that will outline how the real estate industry can avoid the underwriting mistakes of the past.

By Jacqueline Hlavenka | Updated on May 08, 2012

NEW YORK CITY-Industry groups are calling on federal regulators, ratings agencies, deal sponsors, originators and investors to come up with a uniform set of standards to increase transparency in underwriting, fraud and regulatory compliance throughout the real estate industry, said Digital Risk LLC, a provider of mortgage risk solutions at the Mortgage Bankers Association National Secondary Market Conference in Midtown Manhattan on May 8.

The firm, which provides compliance and transaction management services to both the residential and commercial real estate industry, is working to build a consortium of mortgage professionals who can create guidelines that include actionable and reliable methodologies, as well as reforms to the federal Real Estate Settlement Procedures Act, or RESPA, under the US Department of Housing and Urban Development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.