Gateway Adopts TPG Anti-Fraud Services

Gateway Funding Diversified Mortgage Services, Horsham, Pa., and The Prieston Group, San Rafael, Calif., have announced that Gateway will adopt a group of TPG services to protect itself against mortgage fraud.The services, TPG Mortgage Assurance Solutions, are designed to help lenders "significantly reduce the incidence of mortgage fraud" through the adoption of various processes and procedures, TPG said. They also include an insurance component that helps mitigate losses in case of a repurchase request stemming from financial misrepresentations made to the lender. Gateway president Regina Lowrie, who is chairman of the Mortgage Bankers Association, said the "top-notch" training and education provided by TPG is "one of the main reasons we decided to do business with them." TPG can be found online at http://www.priestongroup.com.