Keystone Asset Management has recently completed an audit that assures the company is complying with regulations within the mortgage servicing industry.
By passing the Standards for Attestation Engagements 16 Type II audit, the Colmar, Pa.-based asset management company's information system reporting controls, processes and procedures adhere to industry best practices. The company said this successful completion “demonstrates Keystone's ongoing commitment to its customers.”
The SSAE 16 Type II audit, which is an enhancement to the SAS70 reporting controls standard, was completed for the period between Jan. 1 and June 30. The purpose of the changes made to the standard is to allow a U.S. company to compete against an international business with more confidence.
“This is an important milestone for Keystone Asset Management,” said Jason Klementisz, director of IT operations for the national provider of REO, default management and property valuation services. “Not only can Keystone assure customers that we're providing them with excellence in our service standards, but they also have the peace of mind and confidence in our controls.”
Services that the asset management company provides to banks, mortgage companies and loan servicers include disposition of nonperforming assets, REO marketing, property valuation services and custom reporting capabilities.