Opus Capital Markets Consultants, a unit of Wipro, has created a division for identifying operational and loan-level risks within a residential mortgage servicing operation.
Opus' Servicing Oversight Solutions division will help servicers meet regulatory requirements imposed by government-sponsored enterprises, and meet the needs of investors. The division will be marketed to banks, servicers and mortgage investors.
"The implications of improper loan servicing practices are far-reaching," said Jennifer LaBud, chief operations officer at Opus CMC. "Ensuring top-notch servicing performance means greater operating yields, fewer fines as a result of audits and increased returns for investors."
The creation of the mortgage servicing oversight group is a "natural progression" of the mortgage due diligence business at Wipro, parent company of Opus CMC, said Keyur Maniar, head of mortgage solutions at Wipro.
