Evolve Mortgage Services Added to Fitch Ratings' List of 'Acceptable' Third Party Review Providers

FRISCO, Texas, June 25, 2020 /PRNewswire/ -- Evolve Mortgage Services, a top provider of outsourced mortgage solutions, has been designated as an 'Acceptable' third-party review (TPR) firm by Fitch Ratings for loans included in residential mortgage-backed securities (RMBS) that Fitch rates. "Acceptable third-party review firms have demonstrated proficiency in due diligence and have adequate processes and controls in place," according to Fitch.

In a recent report, Fitch emphasized that third-party due diligence remains a key consideration in its RMBS rating process, especially in "stress scenarios such as the current coronavirus pandemic." 

With the latest designation by Fitch, Evolve is now an 'Acceptable' TPR provider for all five major rating agencies. The other four agencies are: DBRS Morningstar, Kroll Bond Rating Agency, Moody's Investors Service and S&P Global Ratings.

"The economic impact of the COVID-19 pandemic was particularly disruptive to the non-agency mortgage market, resulting in widespread suspension of trade settlements and loan programs," said Evolve Managing Director Mark Hughes. "During this pause in activity, market participants have had an opportunity to evaluate legacy processes and redesign their loan programs and vendor partnerships that are focused on supporting their growth.  With the completion of our rating agency approvals, we are pleased to expand the pool of originators, aggregators, Issuers and underwriters that can benefit from our services."

Evolve's management team and staff have vast expertise in loan level due diligence reviews to identify credit, compliance and valuation risk, as well as extensive knowledge of RMBS securitization best practices. The firm has a state-of-the art proprietary underwriting platform that is integrated with advanced technology to provide comprehensive due diligence on a variety of loan types, including: Non-QM, jumbo, business purpose and agency loans, among others.

Evolve CEO Paul Anselmo stated, "Users of third-party reviews are tired of the old and afraid of 'too new.' They are seeking different options for TPR services. Our roots go back nearly three decades. With our long history and strong experience in due diligence, we look forward to shoring up capacity in this space."

About Evolve Mortgage Services
Evolve Mortgage Services is a leading provider of outsourced mortgage solutions that has helped hundreds of clients dramatically grow and scale their mortgage operations. Founded and run by a team of industry veterans, Evolve provides seamless component or end-to-end loan services and creates custom strategies for each client. The firm has extensive experience in origination and post-closing services; institutional, whole loan, and servicing acquisition due diligence; collateral recovery HMDA and forensic compliance reviews; whole loan sales; agency deliveries; and securitizations. Evolve is based in Frisco, Texas. For more information, visit www.EvolveMortgageServices.com.

Media Contact:
Sam Garcia
Publicist
Strategic Vantage Marketing & Public Relations
214.762.4457
[email protected]

SOURCE Evolve Mortgage Services

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