LAKE ZURICH, Ill., Feb. 6, 2024 (SEND2PRESS NEWSWIRE) — Dovenmuehle Mortgage, Inc., a leading mortgage subservicing company, announced today that Plante Moran, PLLC, a public accounting and business advisory firm, has published the findings of its annual review of Dovenmuehle’s subservicing operations via Service Organization Control (SOC) 1® Type 2 and SOC 2® Type 2 reports. The latest SOC 1 and SOC 2 reports confirm that Dovenmuehle has suitable internal systems, organization and information security controls for financial reporting and safeguarding clients’ confidential data based on the specific requirements of these independent third-party reviews.
Image Caption: Dovenmuehle Mortgage.
“To mitigate risk for our clients and provide them with the necessary reassurance of the security and integrity of our operations and reporting, Dovenmuehle willingly undergoes rigorous SOC reviews. We are deeply committed to protecting our clients’ and borrowers’ confidential information and complying with intricate regulatory requirements to reduce risk for our clients,” said Dovenmuehle Senior Vice President of Business Development David Allison.
The SOC 1 Type 2 Report evaluates the effectiveness of Dovenmuehle’s internal controls for financial reporting, assuring clients that their financial data is secure and safe. Additionally, the SOC 2 Type 2 report evaluates the security, availability and confidentiality of Dovenmuehle’s subservicing operations, demonstrating alignment with current data protection requirements. Notably, the SOC 2 report evaluates Dovenmuehle’s internal controls related to:
- Privacy – Personal information is gathered, compiled, handled, kept, released and disposed of in compliance with the company’s privacy statement.
- Availability – The system is accessible and utilized as promised or planned.
- Security – The system is shielded from unapproved entry.
- Processing integrity – System processing is thorough, accurate, correct, relevant and certified.
- Confidentiality – Information designated as confidential is safeguarded according to commitment or agreement.
The SOC 1 Type 2 report is now available to all Dovenmuehle clients via DMIConnect under the “DMI Corporate Documents” tab. Clients can also request the reports from their Account Manager.
About Dovenmuehle:
Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans, as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com.
News Source: Dovenmuehle
