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News: Dovenmuehle’s Above Average Residential Mortgage Loan Primary Servicer Ranking Affirmed by S&P Global Rankings | CitizenWire

Dovenmuehle Mortgage

LAKE ZURICH, Ill. /CitizenWire/ -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Standard & Poor's Global Ratings (S&P) has affirmed its Above Average ranking of Dovenmuehle as a residential mortgage loan primary servicer with a stable outlook. For 13 consecutive years, Dovenmuehle has consistently received an Above Average ranking from S&P.

In its review, S&P emphasized Dovenmuehle's seasoned and tenured senior management team, well-diversified client base and comprehensive training programs, with a solid focus on technology to support remote learning and operations. The review also highlighted Dovenmuehle's satisfactory information technology infrastructure, cybersecurity controls and sound internal control environment, which includes multiple lines of defense and predominantly satisfactory audit ratings.

"At Dovenmuehle, we understand the critical importance of managing lenders' servicing assets," said Dovenmuehle Senior Vice President of Business Development Anna Krogh. "Our consistent high rating from S&P reflects our sustained commitment to delivering mortgage subservicing offerings that meet the highest standards of security and dependability."

S&P previously reviewed Dovenmuehle in 2023, awarding it an Above Average ranking. Since then, the S&P team has observed the following significant changes and advancements during their latest assessment:

* Enhanced its website and mobile application to include self-service functionality for payment misapplication corrections and viewing loss draft claim status.

* Hired external candidates to fill the roles of cybersecurity information security officer and chief information officer.

* Replaced the senior vice president of the default management functions with an external candidate previously employed by DMI who has extensive default operations industry experience.

* Implemented an enhanced default attorney scorecard with new compliance-based metrics for foreclosure and bankruptcy.

* Transitioned the handling of borrower hazard insurance calls to its vendor.

* Established a specific customer service team to handle newly boarded clients and their data issues.

* Created a singular system view to enhance customer service agents' efficiency while handling borrower calls, consolidating common agent searches and tasks.

Looking ahead, Dovenmuehle continues to improve the sophistication of its technology and systems to automate many of its manual processes, supporting staff and portfolio growth. In its findings, S&P stated it believes Dovenmuehle will remain a capable and effective subservicer of prime mortgage loans.

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 and 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.

Learn More: https://dovenmuehle.com/

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