Moody's Investors Service Affirms Dovenmuehle's Overall Rating As An 'Above Average' Residential Mortgage Loan Servicer
Date
3/27/2024 2:25:38 PM
(MENAFN- Send2Press Newswire) LAKE ZURICH, Ill., March 27, 2024 (SEND2PRESS NEWSWIRE) - Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading residential mortgage subservicer, announced today that Moody's Investors Service (“Moody's”) has affirmed its servicer quality (SQ) assessment as a servicer of prime residential mortgage loans at SQ2-. Moody's assessment underscores Dovenmuehle's exceptional capabilities across various key areas of mortgage servicing.
Image caption: Dovenmuehle Mortgage.
“This affirmation from Moody's reaffirms our commitment to excellence in mortgage servicing. At Dovenmuehle, we prioritize not only meeting but exceeding the expectations of our clients and borrowers,” said Dovenmuehle Senior Vice President of Business Development David Allison.“Our sustained performance reflects the dedication of our experienced team and our ongoing investment in technology and process enhancements.”
In its assessment, Moody's highlighted Dovenmuehle's focus on technology innovation and information security, noting the company's recent upgrades in network security software and implementation of monthly phishing exercises. The key areas considered in the review include:
Loss Mitigation : The company's loss mitigation abilities were rated above average, with improved processes and enhanced efficiency. Enforcement Abilities : Dovenmuehle's enforcement abilities were above average, noting compliance enhancements in foreclosure processes. Loan Administration : The company's loan administration function was rated as average, with automation and ongoing efforts to address reconciliation items. Servicing Stability : Dovenmuehle's servicing stability was average, highlighting technology investments and the provision of DMIConnect for client access.
In addition, Dovenmuehle's collection performance metrics were deemed above average, and the company has consistently demonstrated robust loss mitigation abilities, maintaining solid cure and recidivism rates.
Dovenmuehle's dedication to continuous improvement and adherence to best practices in mortgage servicing has resulted in this positive assessment from Moody's. The company remains committed to providing exceptional service to its clients and borrowers while upholding the highest standards of professionalism and integrity.
About Dovenmuehle:
Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans and loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at .
News Source: Dovenmuehle
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