DENVER, Colo. — Altavera Mortgage Services (Altavera), a Computershare company and leading provider of outsourced residential mortgage origination services, has been approved by Standard & Poor’s Global Ratings (S&P) as a third-party due diligence provider for U.S. residential mortgage-backed securities (RMBS) rated by that agency.
When assessing third-party due diligence firms like Altavera, S&P uses a systematic methodology and rigorous criteria that encompass mortgage loan data quality, compliance with originator underwriting guidelines, property valuation and regulatory compliance. Altavera joins fewer than a dozen organizations currently included in S&P’s list of reviewed third-party due diligence firms that meet these criteria.
Altavera provides investors and correspondent aggregators with a full range of closed-loan file review services for agency and non-QM residential mortgages, including validation of product acceptability to investor guidelines, credit decision and supporting documentation, QM/ATR requirements, regulatory compliance, property valuation and closing documentation. The company’s due diligence business is led by thirty-plus-year mortgage operations veteran Jennifer Fountain.
“Our goal is to provide buyers and sellers of mortgage loans with confidence in the value of their collateral through extensive, yet cost-efficient analysis performed by a team of seasoned experts,” said Fountain. “S&P’s recognition of Altavera as a reviewed due diligence provider for RMBS is a vote of confidence in our ability to help investors make informed decisions.”
“Altavera’s clients are demanding greater transparency than ever when it comes to loan data and documentation, and that expectation will only intensify when appetite for private-label securities returns,” said Altavera President Brian Simons. “Our deep experience and customized approach sheds light on loan quality and consistency and help investors mitigate risk and expense.”
S&P frequently relies on due diligence performed by reviewed third-party firms in addition to its own analysis when assigning ratings for new U.S. RMBS transactions because, according to its website, the credit rating agency “believes that using third-party due diligence results in its ratings analysis will increase transparency and strengthen the rating process.”
“Altavera’s inclusion in S&P’s exclusive list of reviewed RMBS due diligence firms is exactly the kind of achievement we expected when we decided to invest in the firm,” said Nick Oldfield, CEO of Computershare Loan Services, the umbrella brand for all of Computershare’s mortgage servicing businesses. “It’s also a natural complement to the clean sweep of high S&P, Fitch and Moody’s ratings earned by Specialied Loan Servicing (SLS) and Computershare’s UK mortgage servicing businesses.”
About Altavera:
Altavera is a leading provider of outsourced residential mortgage origination and due diligence review services. Its SAFE Act-compliant staff of seasoned, U.S.-based fulfillment specialists helps clients streamline operations, minimize costs and achieve faster cycle times for greater customer satisfaction and profitability. Altavera’s fully customizable closed-loan file review services enable investors and aggregators to reduce risk and make better-informed decisions. Based in Denver, Colorado, Altavera is a Computershare company.
For more information, visit http://www.altavera.com.
About Computershare Limited:
Computershare (ASX: CPU) is a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications. We also specialize in corporate trust, bankruptcy, class action and utility administration, and a range of other diversified financial and governance services.
Founded in 1978, Computershare is renowned for its expertise in high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement. Many of the world’s leading organizations use us to streamline and maximize the value of relationships with their investors, employees, creditors and customers. Computershare is represented in all major financial markets and has over 16,000 employees worldwide.
For more information, visit https://www.computershare.com.
About Computershare Loan Services (CLS):
Computershare Loan Services (CLS) is a leading international third-party mortgage servicing business, currently administering over $100 billion of assets. We continue to invest in technology and servicing enhancements globally and in mortgage servicing rights across the USA. We help mortgage lenders optimize the performance of their portfolios and support hundreds of thousands of borrowers throughout the lifecycle of every loan. Our expertise, experience and understanding of large volumes of complex financial data also help us provide insight and services to mortgage providers, investors and real estate professionals.
*PHOTO for media: Send2Press.com/mediaboom/17-0314s2p-Brian-Simons-300dpi.jpg
*Photo Caption: Altavera President Brian Simons.
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