SALT LAKE CITY, Utah, April 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\u2019s flagship mortgage QC audit platform, for its in-house pre-funding and post-closing loan audits.<\/p>\n
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\n\u201cPRMI 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,\u201d said Burton Embry, executive vice president and Chief Compliance Officer at PRMI. \u201cUsing Insight, we\u2019ve been able to keep up with rising volume without having to increase our overhead.\u201d<\/p>\n
\u201cInsight is a leap forward in QC technology versus what’s in the market today,\u201d he added. \u201cThe 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.\u201d<\/p>\n
\u201cInsight 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.\u00a0It\u2019s given us the ability to consolidate everyone\u2019s findings into a complete risk assessment, ultimately helping us to calibrate with others and trend all findings for true risk oversite,\u201d said Brandi Hume, vice president of quality assurance at PRMI.\u00a0\u201cIn 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.\u201d<\/p>\n
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\u2019s integrated business intelligence reporting engine Tableau, and users can create and assign action plans to proactively mitigate future risk.<\/p>\n
\u201cTRK was born from the idea that technology solutions need to be intuitive, empowering, user-friendly and, most importantly, useful,\u201d said Teri Sundh, CEO of TRK Connection. \u201cWe\u2019ve 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\u2019s QC operations.\u201d<\/p>\n
About PRMI:<\/strong> About TRK Connection:<\/strong>
\nHeadquartered 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<\/a>. PRMI is an Equal Housing Lender. NMLS #3094.<\/p>\n
\nFounded 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.<\/p>\n