Orange, CA, Jan
20, 2014: TD
Service Financial Corporation, one of the largest independent trustee firms in
the nation, announced its acquisition of the Mortgage Quality Control division
of Irvine, California based, IMARC Inc.
To meet increasing regulatory
requirements, TD Service Financial Corporation will now offer post-closing and
pre-funding quality control services through a new subsidiary, TD Quality
Control Services. This new subsidiary joins TD Service Company, Trustee’s
Assistance Corporation, and Security Connections, Inc., in providing services
spanning the entire mortgage process, from origination to close.
The acquisition of IMARC’s
quality control business is part of TD Service Financial Corporation’s on-going
investment in technology, security, and the company’s focus on
technology-related businesses. This acquisition includes IMARC’s quality
control software that was five years in development and refinement. It is an intelligence-based
application that uses both automation and a rich network of data providers to
perform quality control audits and verifications of loan data as directed by clients.
Modules within the advanced system provide file review, live update, and results
in real-time. A reporting and metrics dashboard puts control of the results in
the hands of the client. TD will call this integrated system, “AuditTrack.”
"We’re very excited about
this new direction for TD Service Financial,” said CEO and Chairman, Dale
Dykema. “After nearly a year of research and acquisition work we are launching
what we believe will be the best quality control services in the industry.” Dykema
added that venturing into the loan origination side of the business allows TD
to offer a full spectrum of services to a wider base of customers. “With the
tighter requirements being mandated for loan originators, we are providing a
much needed service to both existing and new customers.”
With its acquisition by TD, IMARC
effectively exits the post-closing Quality Control space, though it will
continue to offer loan audits and due diligence services to the industry. Bob
Simpson, president of IMARC, stated that the sale of the software and business
will allow both IMARC and TD to carry out their strategic vision for 2014.
For more information visit: www.tdsf.com
For
more information specific to this news item, contact:
Robert Phelps, CIO, TD Service
Financial Corp.
714-480-5480
