HOME / NEWS ARTICLES / ARTICLE SIX
Kroll Factual Data Wins Mortgage Technology Magazine’s 10X Award
-- National Publication Recognizes Company’s Independent Verification Process as Having an Exponential Impact on the Mortgage Industry --
LOVELAND, Colo., Oct. 15, 2009 – Kroll Factual Data, a leading provider of business information solutions to financial organizations, has won Mortgage Technology magazine’s 2009 10X Award. The 10X award, one of industry's highest technology honors, is presented to the company, product or technology application the publication feels has had an exponential impact on the mortgage industry. Kroll Factual Data won the award for its comprehensive approach in addressing the growing need for independent verifications to mitigate risk.
“This has been a transitional year for the mortgage industry,” said Tim Murphy, group publisher and vice president at SourceMedia. “However, in times of adversity, true leaders emerge. Through these awards, we honor their ability to step up and reshape the space for the better by adopting new technology and overall business practices.”
According to the magazine, Kroll Factual Data’s selection was because of the company’s unique position to impact the entire lending industry, “(We are) at a period in history when credit assessment and risk management have to be paramount in mortgage lending.”
The award was presented to Kroll Factual Data during an award ceremony held at the Mortgage Bankers Association’s 96th Annual Conference in San Diego, Calif. on October 11, 2009. Jeff Gentry, vice president of business development for Kroll Factual Data, accepted the award on behalf of the company. Gentry thanked the editors of the magazine and Kroll Factual Data team members for all of their hard work.
“We are honored to be recognized for our efforts to help the industry reduce risk, enhance safety and soundness and increase profitability,” said James Donnan, president of Kroll Factual Data. “In these turbulent times, it is critical for lenders to have a trusted provider like us that they can rely on for expertly processed verifications that reduce the chance of errors, remove conflicts of interest, and save time and money.”
Traditionally, the verification process has been complex and expensive with most lenders utilizing a combination of in-house verifications and external sources to create a complete file. By delivering a full suite of expert verifications, Kroll Factual Data aims to provide lenders with a simpler, more cost-effective way to produce a loan. The company’s verification services include identity validation, Red Flag detection, collateral risk assessment, 4506-T tax transcripts, employment, deposit, mortgage, occupancy, outstanding liabilities, participant screening, credit reports, rental and lease payments and more. Each solution is designed to meet the client’s specific verification needs. Detailed billing and management reports are also provided to assist lenders with operational tracking and compliance reporting. For more information on Kroll Factual Data’s Independent Verification Solution, call 800-929-3400 or visit the company’s Web site at www.krollfactualdata.com.
About Kroll Factual Data
Kroll Factual Data is a leading provider of business information to mortgage lenders, consumer lenders, property management firms and other businesses. For more than 20 years, Kroll Factual Data has helped business make prompt, accurate decisions by combining innovative services with cutting-edge technology and industry-leading customer service. Kroll Factual Data is a subsidiary of Kroll, the world’s leading risk consulting company. Kroll is a subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm. For more information, visit www.krollfactualdata.com.