Regtech Solution Will Consolidate Data From Multiple Servicers And Detect Loan Exceptions
Bizzy Labs, a regtech company that uses a big data approach to perfect mortgage loan compliance during loan boarding and throughout the life of servicing, announced that MCM Capital and its affiliate, Temple View Capital, have selected Libretto from Bizzy Labs for compliance monitoring on their entire portfolio.
Libretto, a regtech offering from Bizzy Labs, improves loan portfolio compliance by automating identification of data anomalies in loan files, enabling their timely research and remediation. Its comprehensive business rule library is curated by legal and compliance experts and can be configured by loan type. Its systematic and automated approach to loan diligence translates into fewer borrower complaints and higher loan valuations.
“We are pleased that MCM Capital and Temple View Capital have selected Libretto as its compliance monitoring engine,” said Gagan Sharma, CEO of Bizzy Labs. “As they work with multiple servicers, Libretto provides a single consistent mechanism to monitor their portfolio.”
“We selected Libretto for its advanced design and comprehensive business rules library,” said Mike Niccolini, MCM Capital CEO. “It is ideal for monitoring quality and detecting issues that may create compliance risk.”
Formed in 2020, Bizzy Labs is the product of BSI Financial’s decade-long program to develop a technology-based alternative to manual processes that detect loan file anomalies. A stand-alone company located in Irving, Texas, Bizzy Labs provides regtech services to loan investors, originators and servicers. Its core product, Libretto, improves loan performance and profitability by reducing errors that create compliance risk and servicing challenges.
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