SALT LAKE CITY, Utah, Apr 18, 2017 (SEND2PRESS NEWSWIRE) -- TRK Connection, a leading provider of mortgage quality control and origination management solutions, announced that Salt Lake City-based Primary Residential Mortgage, Inc. (PRMI) has experienced significant improvement in the efficiency of its mortgage quality control (QC) auditing process. PRMI was the first mortgage lender to leverage Insight Risk and Defect Management (RDM), TRK's flagship mortgage QC audit platform, for its in-house pre-funding and post-closing loan audits.
"PRMI has grown aggressively over the past two years, which has increased both our total origination volume and the total number of loans our QC department reviews," said Burton Embry, executive vice president and Chief Compliance Officer at PRMI. "Using Insight, we've been able to keep up with rising volume without having to increase our overhead."
"Insight is a leap forward in QC technology versus what's in the market today," he added. "The reason we reached out to TRK to begin with was because our evaluation of the other systems on the market found them to be lacking. None of them did everything that we wanted them to do. TRK has done an outstanding job of building Insight and making it do what we need to do in the QC process."
"Insight has helped PRMI develop a complete defect management platform, providing us the ability to not only audit files and track defects internally but also upload findings from the GSEs, VA, FHA, and investors. It's given us the ability to consolidate everyone's findings into a complete risk assessment, ultimately helping us to calibrate with others and trend all findings for true risk oversite," said Brandi Hume, vice president of quality assurance at PRMI. "In addition, the platform provides communicating tracking, allowing us to take findings back to the responsible party, monitor the corrective action steps and view any supporting documentation used to mitigate the issue."
Insight RDM is a web-based mortgage QC audit platform that enables lenders of all sizes to manage and minimize repurchase risk through effective, efficient QC auditing and reporting. Through Insight, QC personnel can create audit projects, sample loan populations, assign question checklists, and manage and remediate defect exceptions generated from the audit process. Furthermore, defects can be tracked, reported and trended through Insight's integrated business intelligence reporting engine Tableau, and users can create and assign action plans to proactively mitigate future risk.
"TRK was born from the idea that technology solutions need to be intuitive, empowering, user-friendly and, most importantly, useful," said Teri Sundh, CEO of TRK Connection. "We've worked closely with Burton and PRMI to refine Insight RDM so that it delivers the functionality mortgage QC professional needs to improve loan quality, and we are thrilled to see the system make such a positive impact on PRMI's QC operations."
About PRMI:
Headquartered in Salt Lake City, Utah, Primary Residential Mortgage, Inc. (PRMI) was founded in 1998 by Dave Zitting, Jeff Zitting and Steve Chapman. PRMI has grown to include Tom George, COO and Burton Embry, CCO in its executive team and evolved into a nationwide, multi-billion dollar operation with over 1,900 employees and nearly 250 branches. The company is licensed in 49 states and serves all segments of the market. PRMI is a privately held company that focuses primarily on traditional residential loan products. For information on PRMI, please visit http://www.PrimaryResidentialMortgage.com. PRMI is an Equal Housing Lender. NMLS #3094.
About TRK Connection:
Founded in 2013, TRK Connection prides itself on its ability to develop technologies that allow businesses to surpass their organizational needs and meet their business objectives. As an innovator in the mortgage origination and quality assurance space, TRK continues to develop and refine solutions geared to promote and strengthen the loan origination process, pre/post-close loan audits and the defect remediation process.
Currently, TRK offers solutions that support Mortgage Audit & Quality Control (Insight Risk & Defect Management(tm)), Loan Origination Vendor Management (Core Connect(tm)), Complete LOS Connectivity Platforms and more. For more information, visit http://trkconnection.com.
News Source: TRK Connection
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