Sep, 12
2023
Business, Free News Articles

Flanagan State Bank selects Dovenmuehle for its mortgage subservicing needs

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Flanagan State Bank, a community bank headquartered in central Illinois, has selected Dovenmuehle to subservice its mortgage loan portfolio and deliver enhanced service to the bank's mortgage customers.

Flanagan State Bank specializes in residential mortgages and agricultural lending. As the bank and its home lending programs have expanded, it needed a subservicer that could handle multiple loan types, including USDA, FHA, VA and conventional, while simultaneously providing the high level of personal customer service to which Flanagan State Bank customers are accustomed.

"We wanted to provide a better user experience for our borrowers, and with Dovenmuehle's self-service technology, our borrowers have a lot more insight into their mortgage loans at their fingertips," said Audrey Harlan, President of Flanagan State Bank. "Not to mention, onboarding was an extremely smooth process. As a family-owned bank, we were apprehensive about working with such a large company, but Dovenmuehle has repeatedly proven to be an excellent resource."

Dovenmuehle has extensive experience in working with community banks of all sizes nationwide. As local lending institutions, these banks place a high priority on personal service while wanting to deliver modern digital banking solutions for their borrowers as well. For example, Dovenmuehle provides its lender clients with a white-labeled platform that enables lenders' customers to access key information regarding their mortgage loans and, in many cases, self-serve. In addition to providing access via web browser, the platform also includes a native mobile application, which has consistently earned a 4.9-out-of-5 star rating on the Apple App Store.

"It can be difficult for lenders to decide when, how and who should manage their servicing needs. At Dovenmuehle, we understand the gravity of this decision and strive not only to provide solutions for lenders of all sizes but also to assure our clients that their borrowers are in the best hands," said Dovenmuehle Vice President of Business Development Anna Krogh. "It's an honor to hold such a responsibility, and we are delighted that Flanagan State Bank has entrusted us with managing its servicing assets and treasured clients."

About Dovenmuehle

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 01
2023
Awards and Honors, Business, Free News Articles

Dovenmuehle’s Iris Tredway named a 2023 Insider in HousingWire Magazine’s annual award program

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Vice President and Manager of Special Loans and Commercial Servicing Iris Tredway has been selected by HousingWire magazine for its annual Insiders awards program.

Tredway was selected for her leadership and contributions to Dovenmuehle over the last two decades. As Vice President and Manager of Special Loans and Commercial Servicing, Tredway is responsible for more than 100 employees and countless innovations internally at Dovenmuehle. She has spearheaded implementing quality assurance programs and automating more than 200 steps in various processes, resulting in increased efficiency, improved risk mitigation and overall enhanced operations.

"Iris has been instrumental in DMI's growth. Her ability to motivate employees not only has driven operational excellence but also has been showcased by her resilience during challenges posed by macroeconomic conditions. No matter the obstacle, Iris has continuously grown her department and built an engaging culture, not to mention maintaining 20+ year relationships with multiple accounts," said Dovenmuehle Senior Vice President Glen Braun. "Her commitment to Dovenmuehle and customer service is indisputable, and she is extremely deserving of this recognition by HousingWire."

The HW Insiders represent a wide range of occupations within the housing landscape, from lending and real estate to fintech and much more. The HW Insiders are the professionals their companies turn to with their most important or challenging projects and their contributions and hard work lead to superior results.

"We publish the HousingWire Insiders award with the goal of shining a spotlight on the intrapreneurs and operational leaders who work ambitiously to support the success of their organizations," HousingWire Editor in Chief Sarah Wheeler said. "Since its launch eight years ago, we have been able to recognize the accomplishments of hundreds of Insiders whose dedication and expertise have resulted in enormous contributions to the housing landscape. Accomplishments which can often be behind-the-scenes but garner massive results."

The HousingWire Insiders award program seeks to recognize operational all-stars. To view the full list of HousingWire's Insiders recipients, visit: https://www.housingwire.com/insiders/

About Dovenmuehle

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com.

About HousingWire

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches more than 125,000 newsletter subscribers daily, one million unique visitors each month and has more than 6,000 members and event attendees. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 21
2023
Business, Free News Articles, Insurance

Dovenmuehle appoints Patricia McCarthy as Vice President of Insurance Administration

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced that it has hired Patricia McCarthy to be the company's new vice president of insurance administration. In this role, McCarthy will oversee Dovenmuehle's insurance department with responsibility for hazard and flood insurance administration, loss drafts, research and the insurance department call center.

"Insurance is a critical component of the mortgage servicing process, requiring keen attention to detail and a firm grasp of the regulations governing it across all levels," said Dovenmuehle Senior Vice President Glen Braun. "Patricia brings a wealth of experience in managing the complex, highly regulated financial aspects of mortgage operations, making her an idea choice to oversee these critical escrow functions."

An industry veteran, McCarthy has worked with every aspect of the mortgage process during her career. Prior to joining Dovenmuehle, McCarthy held the position as vice president of mortgage warehouse lending at Hinsdale Bank for more than 10 years. While at Hinsdale Bank, she managed two divisions within the department, over $1 billion in warehouse lines of credit and 25 clients, moving upwards of $40 million per day. Throughout her more than 30-year career, McCarthy has managed compliance, mortgage operations, loan processing and customer service departments.

"As one of the longest-standing mortgage subservicers, Dovenmuehle's reputation for stability, compliance and excellence is well known," McCarthy said. "I welcome the opportunity to join such an outstanding organization and contribute to its on-going success and growth."

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Illinois) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained.

Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements.

Learn more at https://dovenmuehle.com/.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 17
2023
Business, Free News Articles

Dovenmuehle taps Ron Malik as Senior Vice President of Default Servicing

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that it has appointed Ron Malik as the company's new senior vice president of default servicing. In this role, Malik will oversee Dovenmuehle's special servicing initiatives and maintain a high level of compliance and service satisfaction in all areas of default servicing, aiding Dovenmuehle in its continued efforts to provide excellent service to its clients and their borrowers.

"As the mortgage industry anticipates an increase in delinquencies and foreclosures, servicers and subservicers are doubling down on their special servicing efforts to support homeowners facing hardships," Malik said. "I look forward to leveraging my experience and expertise in special servicing to increase the efficiency of Dovenmuehle's default servicing efforts without compromising customer service."

With 15 years of experience, Malik has focused on special servicing efforts since the beginning of his career. After serving as Dovenmuehle's vice president of loss mitigation & collections for almost a decade, Malik most recently served as the senior vice president of servicing administration for Wintrust Mortgage. Before his first stint with Dovenmuehle, Malik gained extensive and valuable experience in default administration during his time with HSBC Mortgage Services at the height of the subprime mortgage crisis.

"With his experience in special servicing, Ron is the perfect choice to lead the growth of Dovenmuehle's sub-performing and non-performing servicing support. With his expertise, Ron will also work to decrease costs for our clients while increasing the ways in which Dovenmuehle helps homeowners stay in their homes," said Dovenmuehle Senior Vice President of Business Development David Allison. "We are thrilled to welcome Ron back to Dovenmuehle and are confident he will again be instrumental in our special servicing efforts."

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com/.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 09
2023
Business, Free News Articles

Georgeo Pulikkathara joins Dovenmuehle as Chief Information Security Officer

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that it has hired Georgeo Pulikkathara as the company's Chief Information Security Officer (CISO). In this role, he will be responsible for the information security at Dovenmuehle, protecting data security and privacy, including borrowers' nonpublic personal information (NPI) and ensuring that Dovenmuehle maintains the appropriate internal systems, organization and information security controls necessary for financial reporting and protecting clients' confidential data.

"With the increasing rise in cyber threats and other threats to data security and privacy, protecting the data our clients have entrusted to Dovenmuehle is our organization's top priority," Pulikkathara said. "I take this responsibility very seriously and look forward to helping Dovenmuehle maintain its reputation for delivering industry-leading mortgage subservicing solutions with a particular emphasis on security and compliance."

Pulikkathara has more than a decade of experience as a cyber and information security executive. Prior to joining Dovenmuehle, he most recently served as the interim SVP, head of cyber security operations for Bank of the West and the CISO at DataStax, an artificial intelligence (AI) firm. Pulikkathara has also held cyber and information security positions at Avanade, Hewlett Packard and Microsoft. He is also currently a U.S. Army Reserve Lieutenant Colonel and Cyber Operations Officer having served in the Army Reserve for more than 23 years and been awarded the Bronze Star Medal twice for his actions in a combat zone.

"Georgeo's abundant depth of knowledge and experience in cyber and information security makes him the obvious choice for CISO," said Dovenmuehle Senior Vice President of Software Development George Mynatt. "He is not only a thought leader in the field, but he also has a proven track record of delivering results and mitigating risk. We expect Georgeo to have an immediate impact on Dovenmuehle and our clients and borrowers."

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Apr, 11
2023
Business, Free News Articles

SOC 1 and 2 reports affirm Dovenmuehle’s stable and secure mortgage subservicing operations

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that public accounting and business advisory firm Plante Moran, PLLC has completed an annual review of Dovenmuehle's subservicing operations and published its findings via Service Organization Control (SOC) 1® Type 2 and SOC 2® Type 2 reports. The new SOC 1 and SOC 2 reports affirm that Dovenmuehle has appropriate internal systems, organization and information security controls for financial reporting and to protect clients' confidential data based on the specific requirements of these independent third-party reviews.

"Dovenmuehle is firmly committed to protecting borrowers' sensitive data and ensuring compliance with the complex regulatory standards to mitigate risk on behalf of our clients. By voluntarily undergoing these rigorous SOC reviews, we can provide our clients with clear proof of the integrity and security of our operations and reporting," said Dovenmuehle Senior Vice President of Business Development David Allison.

The SOC 1 Type 2 report covers Dovenmuehle's internal controls related to financial reporting and provides clients assurance that their financial information is being handled safely and securely. The SOC 2 Type 2 report examines the security, availability and confidentiality relevant to the company's subservicing operations, demonstrating how Dovenmuehle's information security measures align with evolving data protection requirements.

Specifically, the SOC 2 report analyzes Dovenmuehle's internal controls relevant to:

* Security - The system is protected against unauthorized access.

* Availability - The system is available for operation and used as committed or agreed.

* Processing integrity - System processing is complete, valid, accurate, timely and authorized.

* Confidentiality - Information designated as confidential is protected as committed or agreed.

* Privacy - Personal information is collected, used, retained, disclosed and destroyed in accordance with the organization's privacy notice.

The reports are now available to all Dovenmuehle clients via DMIConnect under the "DMI Corporate Documents" tab or by request to the client's Account Manager.

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements.

Learn more at https://dovenmuehle.com.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 29
2023
Business, Free News Articles

Dovenmuehle adds Anna Krogh as Vice President of Business Development to expand mortgage subservicer’s footprint

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Anna Krogh has been hired as the company's vice president of business development. In this role, her responsibilities will include growing Dovenmuehle's client list by sourcing new prospects and fostering and developing long-term relationships and clients.

"I'm honored to be part of this team and such a strong brand," Krogh said. "Dovenmuehle is a highly respected and recognized name in the mortgage industry and servicing space, and I look forward to working with the great people who have made that possible. My goal is to support Dovenmuehle's long-term growth objectives and be an easily accessible, informational source for current and prospective clients, ensuring client satisfaction and confidence."

Krogh has more than a decade of experience in the financial services space and comes to Dovenmuehle from Associated Bank, where she served as the senior vice president, sales team leader, following a promotion from vice president, treasury management officer. In addition to Krogh's prior experience in treasury and cash management sales at Bank of America Merrill Lynch and JPMorgan Chase, she began her career in loss mitigation at Bank of America.

"Anna's breadth and depth of knowledge and experience in the financial sector makes her a valuable addition to our team," said Dovenmuehle Senior Vice President of Business Development David Allison. "She has a deep understanding of servicing and a proven track record of delivering results, which will help her make an immediate and positive impact on the business development team and for Dovenmuehle's clients."

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Illinois) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com/.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 21
2023
Business, Free News Articles

S&P Global Ratings affirms Dovenmuehle’s Above Average rating and stable outlook

LAKE ZURICH, Ill. -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Standard & Poor's Global Ratings (S&P) has affirmed its Above Average rating of Dovenmuehle as a residential mortgage loan primary servicer with a stable outlook. Dovenmuehle has been ranked as Above Average by S&P for the past 12 years without interruption.

In its review, S&P highlighted Dovenmuehle's tenured and experienced senior management team, sound internal control environment, satisfactory servicing and default management operations and overall competitive servicing performance metrics relative to its peers as factors that reaffirmed the company's ranking, among other points. The review also noted that Dovenmuehle continues to improve the sophistication of its technology and systems to automate many of its manual processes to support staff and overall growth. S&P believes Dovenmuehle will remain a capable and effective subservicer of prime mortgage loans.

"Who lenders entrust with the management of their servicing assets is a critically important decision," said Dovenmuehle Senior Vice President of Business Development David Allison. "At Dovenmuehle, we take that responsibility very seriously and strive to provide lenders with assurance that their borrowers and servicing assets are in good hands. To that end, we are proud of the sustained confidence in our rating from S&P. We look forward to maintaining this rating as a signal to the industry of our ongoing commitment to the safety, soundness and security of our clients' servicing assets."

S&P last reviewed Dovenmuehle in 2021, when it also received an Above Average ranking. Since that review, the S&P team noted the following developments that it considered during this most recent review:

* Closed the North Aurora, Ill., location;

* Created a process improvement manager position in the corporate training team;

* Enhanced the IA department's methodologies and practices, along with its action tracking and reporting processes;

* Created a specialized customer service unit to handle insurance calls within the escrow department;

* Transitioned customer service, collections and single points of contact phone agents to a majority remote working model;

* Implemented a chatbot in the customer service area;

* Consolidated the collections and loss mitigation departments under one management team; and

* Implemented an enhanced communications and ticketing tool to facilitate client requests and responses.

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements.

Learn more at https://dovenmuehle.com.

Related link: https://dovenmuehle.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022