NEW YORK , June 28, 2017 /PRNewswire/ -- Morningstar Credit Ratings, LLC today affirmed its MOR RV1 residential vendor ranking for ServiceLink Valuation Solutions, LLC (ServiceLink), a subsidiary of Fidelity National Financial, as a residential vendor in the asset valuation market. Morningstar's forecast for the ranking is Stable.
ServiceLink incorporates strong vendor-selection criteria and vendor-rating protocols in its platform that effectively measure vendor performance, and this is reflected in the company's execution of key performance indicators pursuant to service-level agreements with its clients. The company has developed a scoring system to monitor and measure performance and product quality, enabling senior management to assess capacity and workflow to meet or exceed client benchmarks.
ServiceLink continues to develop technology enhancements to better serve its clients. With the rollout of its EXOS platform, the company now offers mobile technology that streamlines the appraisal scheduling process. EXOS includes a real-time calendar, allowing the customer to schedule an appraisal date that is convenient. Appointment details are sent to the appraiser, and the appraiser's profile and picture are sent to the customer for validation and security. The customer receives educational information regarding the appraisal process as well. The scheduling process can be confirmed in minutes, and the time between an order scheduled and completed is dramatically reduced.
The company has established a multilevel risk-mitigation culture that includes internal audits, quality control, self-risk assessment methodologies, and compliance resources. An independent third-party audit to review compliance with the appraisal independence requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act is secured, and an annual Statement on Standards for Attestation Engagements No. 16, Reporting on Controls at a Service Organization (SSAE 16 report) is also obtained.
The company has developed policies and procedures to ensure the consistent application of company practices and compliance with regulatory requirements. A pervasive training and continuing-education culture provides opportunities for staff and management while minimizing turnover. ServiceLink's flexible technology platform and ability to leverage the parent company's many product offerings in the real estate industry should continue to provide market growth opportunities and strategic business diversification.
About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a nationally recognized statistical rating organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.
Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $200 billion in assets under advisement and management as of March 31, 2017. The company has operations in 27 countries. Morningstar, Inc. is not an NRSRO and does not issue NRSRO credit ratings.
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SOURCE Morningstar Credit Ratings, LLC