In an effort to enhance the third party originator approval (TPO) process, NetMore America, Inc., an expanding next generation mortgage banker headquartered in Walla Walla, Washington, announced Tuesday that it will team up with Orange, California-based Comergence Compliance Monitoring, LLC, a third party originator due diligence solution provider to the mortgage industry.

“NetMore is committed to working with the highest quality mortgage brokers in the industry in a ‘friction free’ manner,” said Lisa Schreiber, chief strategy officer of NetMore. “We believe Comergence’s centralized platform will not only mitigate risk and lower our costs associated with the TPO approval process, but also accelerate the opportunity for NetMore to begin working with quality production partners.”

In its new partnership with NetMore, Comergence will now manage all reviews and continuous profile monitoring of all TPOs working with NetMore. Through its

end-to-end service solution that provides due diligence, management, and compliance surveillance, Comergence gives mortgage lenders a comprehensive alternative to an in-house TPO approval desk.

In addition, Comergence gives lenders unparalleled information on mortgage brokers, including a robust background check of any TPO applying to do business with a mortgage lender. The multi-faceted check includes a 50-state license status and derogatory review, industry sanctions reviews, social security number verification for authorized principals, Patriot Act compliance, civil and criminal convictions, business credit, address verification, bankruptcies, liens, and judgments search.

Available 24 hours a day, every day of the year, the Comergence online platform aggregates and appends publicly-available data with its own proprietary data, offering mortgage lenders a richer view of any TPO. All data is verified by the company’s exert analysts and made available in a comprehensive report, which includes all documents related to the application. As a result of this process, Comergence said any TPO that it has previously vetted for one mortgage lender can quickly be approved by a new lender because the profile is current and readily available.

“We are very excited about partnering with NetMore, a company that clearly understands the power of the right relationships to drive business,” stated James Deane, EVP of Comergence. “Our innovative solution offers all parties in a mortgage relationship the foundation to trust one another by providing an independent, consistent, and comprehensive due diligence review and addresses the key issues of transparency in the mortgage process.”