Thanks to MBA and Scott Roller for featuring CLS in MBA Newslink. Read the full article here, or keep reading for the CLS highlights:
Capital Markets Cooperative
CMC has been helping financial institutions, credit unions and independent mortgage lenders compete and grow in this highly competitive marketplace for nearly 20-years. CMC
partners with top quality service providers and investors to negotiate increased incentives and decreased fees on products and services for its members. CMC is the only mortgage
co-op that offers its members both a robust roster of ‘preferred partners’ and the liquidityoption of a servicing acquisition platform. Sellers can leverage CMC Funding to sell Agencydirect
and get optimal execution on the sale of every loan.
CLS delivers solutions for a rapidly changing market. Their fully onshore, private-label operation allows clients to choose exactly what they need – either an end-to-end solution or
just specific components. If you are simply looking to outsource underwriting or processing, CLS is staffed with seasoned professionals. They can also take care of closing
and post-closing. CLS’ model is flexible so that fulfillment can be done in either their platform or the client’s platform for a seamless borrower experience.
The pandemic has caused all industries to adapt to a ‘new normal,’ or suffer consequences. The CLS valuations business embraced ‘alternative’ appraisals and new methods of
delivering services. Their new products and tools include: AppraisalX (Hybrid and Bifurcated products), traditional BPOs and MobileInspect (a new AI app for the inspection process).
Further, the valuations team differentiated traditional appraisals via their CURE Report, which incorporates the collateral underwriter’s results directly into the appraisal review –
resulting in higher quality appraisal reports, higher CU scores and faster turn times.
CLS continues to invest in innovation and technology, building on a strong history of helping clients maximize returns on portfolios and pivot quickly in a changing market. When the
pandemic began, CLS’ automated servicing processes and self-serve tools enabled a rapid response to a high volume of borrower inquiries. Forbearance requests were routed in realtime
and borrowers were able to easily access information regarding forbearance plans, loan mods and repayment options. CLS’ tech and tools optimized the accuracy and
efficiency of the client experience
Notables on CLS & CMC
- CLS is highly rated among Fitch Ratings, S&P and Moody’s, FHA, Ginnie Mae, Fannie Mae and Freddie Mac
- CLS and CMC do not act like typical large-scale vendors, instead they are quick and nimble in response to market and client needs
- I have personally done due diligence on many servicers, and few have truly continuously invested in the platforms like CLS