Alitsource Portfolio Solutions [1], a mortgage and real estate technology provider, announced today that its Vendorly [2]platform, which manages vendor oversight for financial institutions, is now available to all across the market. Previously, Vendorly was only available to members of the Lenders One Cooperative [3], a national alliance of independent mortgage professionals.
Additionally, Altisource announced a collaboration with Secure Insight [4] to offer settlement agent data and real-time risk ratings through the platform. Secure Insight is an information database that offers information on vetted mortgage closing professionals.
“With Vendorly, we’ve developed an easy-to-use platform for delivering stronger vendor management across all vendor types,” said Jim Vaca, VP at Vendorly.
“Our relationship with Secure Insights allows us to leverage their deep expertise in settlement agent oversight and industry-leading database of over 50,000 vetted and rated agents, which has been a decade in the making,” Vaca said.
Vendorly was created to offer full vendor oversight and improve efficiencies, according to Altisource. In addition to the settlement agent database offered through Secure Insights, Vendorly provides end-to-end vendor oversight with due diligence, document management, annual assessments, and security reviews.
“Leveraging Altisource’s technology and industry expertise has enabled us to help bring efficiency to our clients’ vendor management process,” Vaca said.
More than 50 customers have adopted the Vendorly platform since its launch.
“We have always recognized that lenders are seeking a complete solution for vendor management, one that encompasses the different areas of risk and the various vendors that make up the universe of third parties with whom lenders conduct business,” said Andrew Liput, President and CEO of Secure Insight.
“We are excited to combine our specific expertise in settlement agent oversight with Vendorly’s oversight services, uniting our efforts to develop an integrated solution that will deliver our risk data on a transaction basis for greater loan efficiency and operational security at the closing table,” he said.