August 3, 2015— Mission Viejo, California — Comergence, a provider of third-party risk-management platforms for the mortgage industry, announces that it is now providing its originator screening and due diligence services to new wholesaler Blustream Lending, a DBA of Nexera Holding, LLC. Blustream is based in Emeryville, CA. Comergence offers a full suite of hands-on and automated services for mortgage originator, appraiser due diligence and profile surveillance.
Blustream recently began using Comergence’s REALM for Third Party Originators. REALM is a proprietary platform with a comprehensive database of over 400,000 records on every licensed mortgage originator in the country. REALM aggregates critical data such as: licensing, criminal and civil records, financial sanctions, as well as bankruptcies and foreclosures. Because the REALM platform is updated continuously, clients are able to keep current on the status of their third party originators, helping to ensure compliance with state and federal regulations.
“By using REALM for Third Party Originators, Blustream is streamlining the originator approval process in its wholesale channel,” said Greg Schroeder, president of Comergence. “With REALM, Blustream is also helping to ensure it meets regulatory compliance requirements. We’re very happy to add them to our client base.”
“REALM for Third Party Originators allows us to monitor the activities of our brokers, helping to ensure we’re not missing anything,” said Amit Pall, Vice-President with Blustream. “The service offered by Comergence makes our third party originator approval process much more efficient, saving us time and money.”
Comergence is a risk management firm specializing in mortgage originator and appraiser due diligence and profile surveillance. Comergence offers a full suite of hands-on and automated services for screening and compliance monitoring. The company has compiled a comprehensive database of 400,000+ records on every licensed mortgage originator plus 100,000+ licensed and active appraisers in the U.S., along with aggregated and appended industry-specific data that provides clients with crucial information for proper third party risk management. For more information about Comergence Compliance Monitoring, visit ComergenceCompliance.com or call 714-489-8860. The company can also be followed on Twitter at @comergence.
About Nexera Holding LLC
Nexera Holding is an Emeryville, CA-based company backed by industry veterans with unique access to the capital markets and other strategic relationships. Nexera has two national mortgage brands: “Newfi” for consumer direct business, and Blustream for the company’s wholesale business. Both Newfi and Blustream leverage a unique operating model to significantly drive down costs resulting in superior market pricing. Nexera was founded in 2015. For more information, visit Nexera Holding.