AllRegs and The Prieston Group Launch Mortgage Operational Risk Assessment Products, Including the MOSA™ Score and Report
MOSA Score Indicates Overall Corporate Mortgage Repurchase Risk
Eagan, Minn. (October 6, 2011). AllRegs and The Prieston Group, Inc. (TPG) today announced the launch of a new, innovative suite of risk assessment resources and benchmarks for the mortgage industry. The cornerstone of these products is the patented Mortgage Operational Safety Assessment™¹, or MOSA™, Score and Report (*U.S. Patent 7,707,103). AllRegs has become the exclusive distributor of MOSA™ and its related products. Lenders are evaluated with the risk assessment tools in MOSA™ and then receive a score between 0 and 800, with higher scores indicating lower risk. In a recent study reviewing 400,000 loans, higher MOSA™ scores have been proven to be effective indicators in reducing overall mortgage repurchase risk².
The MOSA™ Score and Report consists of a methodology and process that evaluates 11 different key aspects of mortgage operations and origination. These categories include Operational Controls, Company Background, Warehouse Lines, Geographic Mix, Product Mix, Repurchase History, Quality Control Plan, Operational Checklists, Broker Management, Correspondent Management and Appraiser Management.
MOSA™ includes an in-depth evaluation conducted by an independent third party which includes, but is not limited to, file reviews and analysis as well as interviews with lender’s key personnel. Mortgage lenders are then rendered a MOSA score and detailed report of the assessment and evaluation findings.
“MOSA™ is poised to be an industry benchmark that will help mortgage companies reduce their corporate risk, changing how they approach business,” says Dan Thoms, executive vice president for AllRegs.
“We are very excited to nationally launch the patented MOSA™ Score and Report,” said Arthur Prieston, chairman of TPG. “Ten years in the making, MOSA™ is the Lender level due diligence tool all industry participants, including rating agencies, regulators, investors, and lenders of all sizes, have needed to manage their appetite for risk. To have AllRegs as our exclusive distributor to its thousands of customers will render MOSA™ the industry standard.”
For a limited time, AllRegs is offering a free introductory version of the MOSA™ Score. MOSA Lite FirstScore™ consists of an abbreviated self-assessment that renders a first MOSA score. To get your free MOSA Lite FirstScore™ or to schedule a demo, visit http://solutions.allregs.com/MOSA or call (800) 848-4904, Monday through Friday, between 8:00 a.m. and 6:00 p.m. CT.
PDF version »
¹ *MOSA™ is a patented operational assessment process (U.S. Patent No. 7,707,103) licensed and trademarked by Arthur Prieston to AllRegs for distribution and delivered by The Prieston Group®.
² Clifford V. Rossi, PhD. “A New Analytical Paradigm in Assessing Lender Repurchase Risk: TPG MOSA™ Lender Score” (Independent Review Findings), September 12, 2011.
First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides and The Federal Home Loan Banks’ MPF Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, contract publishing services and a library of historical guidelines. The educational division, AllRegs Academy, offers distance learning, classroom training and practical guides. For more information, call (800) 848-4904 or go to solutions.allregs.com.
About The Prieston Group
The Prieston Group offers the only fully integrated suite of mortgage fraud protection, mitigation, and indemnification services in the industry. Called TPG Mortgage Assurance Solutions™, these services provide lender due diligence and data integrity, fraud loss insurance and repurchase protection, and legal consultation for loss mitigation and recovery. Founded in 1986, the company’s patented proprietary Lender Representation & Warranty Insurance™ has protected thousands of lenders and over $50 billion in residential loans to date. TPG has been an industry leader in fighting mortgage fraud, supporting lenders, aggregators, investors, and issuers, as well as working closely with rating agencies, industry representatives, and government and legislative agencies. For more information about The Prieston Group, please visit www.priestongroup.com. The American Mortgage Law Group, PC (AMLG) has its roots in the original Prieston Law Firm, a mortgage law practice founded in 1981. AMLG’s legal practice is focused on mortgage fraud resolution and related matters. AMLG has successfully resolved hundreds of cases and saved clients millions of dollars. Learn more at www.americanmlg.com.
Press and Media: For more information contact: Krista Sabol, AllRegs (651) 289-4809 firstname.lastname@example.org
Sales Inquiries: For more information, contact your Regional Account Executive (800) 848-4904