EML, a wholly-owned subsidiary of Assurant, Inc., is now ranked as a residential vendor in the asset valuation market. Morningstar predicts that the ranking will be Stable.
"The assigned ranking reflects Morningstar’s assessment of EML’s tenured management team, effective technology environment, comprehensive internal performance monitoring, pervasive enterprisewide risk-management infrastructure, and client-driven performance results," Morningstar said.
In September 2014, Assurant acquired EML, the release stated. The Stable forecast is a direct reflection of Morningstar's confidence in EML's ability to leverage shared services such as human resources, training, legal and compliance, information technology, and internal audit in conjunction with its corporate parent.
According to Morningstar, EML has already performed many organizational and technology integrations, which includes an upgrade to the company's continuity plan that incorporates geographical redundancy in the event of a business disruption.
A solid training regimen, comprehensive policies and procedures, and proactive vendor-management protocols provide EML comprehensive quality-control and performance-driven culture benefits within the organization.
In addition, EML has effective vendor management oversight in place for selecting, qualifying, and assessing vendor performance, the announcement said. The company has also developed a scoring system to monitor and measure the company’s performance and product quality against service-level agreement goals, which allows senior management to assess capacity and workflow to meet or exceed client benchmarks.
"The integration of EML’s business process outsourcing valuation services business with Assurant’s suite of diversified mortgage industry products and services should position the company well for continued growth and market expansion in the valuation services industry," Morningstar said.