Stewart adds Origination Quality Control service offerings for loan origination
HOUSTON (April 7, 2014) –Stewart announced today that Wetzel Trott, Inc., headquartered in Farmington Hills, Michigan has joined the Stewart family of companies. The transaction strengthens Stewart’s quality control audit and due diligence offerings for the mortgage origination and servicing space.
Wetzel Trott has specialized in Quality Control Reviews for residential lenders since 1985 with hundreds of customers throughout the United States. Wetzel Trott performs origination and servicing quality control reviews on conventional and government loans in accordance with the requirements of Fannie Mae (FNMA), Freddie Mac (FHLMC), Housing and Urban Development (HUD), the Veterans Administration (VA), the Federal Home Loan Banks (FHLB), and private investors. Wetzel Trott also provides its web-based, workflow origination quality control software for sale on a hosted basis.
The entire Wetzel Trott team joins Stewart and builds upon the existing loan review and due diligence product offerings strengthening the origination quality control and servicing quality control that Stewart offers today for mortgage lenders, servicers and the capital markets.
“This transaction expands Stewart’s quality control services to mortgage lenders and servicers in a time when regulatory compliance and loan quality solutions demand is at its height,” said Jason Nadeau, Group President, Stewart. “This transaction further emphasizes Stewart’s focus upon growth and expansion of our mortgage services offerings. We believe that services dedicated to improving loan quality will continue to be critical to our customers.”
“We are pleased to be joining the Stewart family,” said Jan Wetzel, Founder and CEO of Wetzel Trott. “Our dedication and focus on compliance and due diligence mirrors that of Stewart’s, and we have found a great home to continue to grow this service for the mortgage market.”
Wetzel Trott’s quality control service and software round out Stewart’s due diligence offerings which include mortgage due diligence, credit risk management, loan review, servicing oversight, securitizations, and regulatory compliance services for private, GSE and government entities.
Harborview Advisors advised Stewart on the transaction.
About Stewart Lender Services
Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, is a nationwide provider of centralized origination title, loss mitigation/default resolution, default title, REO asset solutions, quality control and due diligence for mortgage lenders, servicers and capital markets. With more than a century of experience matched with the industry’s leading technologies, SLS helps lenders, servicers and law firms meet the rapidly changing demands of today’s market. SLS has the financial strength, industry knowledge and proven flexibility to perform throughout the lifecycle of a loan. More information can be found at http://www.stewartlenderservices.com.
Stewart Title Company is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-focused, global title insurance and real estate services company offering products and services through our direct operations, network of approved agencies and other companies within the Stewart family. Stewart provides these services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; home builders; and United States governments. Stewart also provides loan origination and servicing support; loan review services; loss mitigation; REO asset management; due diligence for capital markets; home and personal insurance services; tax-deferred exchanges; and technology to streamline the real estate process. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, and is the preferred real estate services provider. More information can be found at http://www.stewart.com/news.