HORSHAM, Pa., May 6, 2019 /PRNewswire/ -- New Diligence Advisors (NDA), a national third-party review firm, today announced that DBRS®, a global credit rating agency, has added the company to its list of acceptable third-party review firms (TPRs). As a result, DBRS will generally accept third-party reviews, diligence grading, results and reports from NDA for DBRS-rated residential mortgage backed securities (RMBS).
The addition was posted on the DBRS website.
DBRS conducts a formal on-site review as part of its approval process to assess the staffing, infrastructure and capabilities of TPRs to ensure that they are able to perform the compliance, credit, data integrity, and property valuation analysis required for the proper grading and reporting in accordance with their U.S. RMBS criteria.
Commenting on the news, NDA's president & chief executive officer, Mark Hughes, said: "We are very pleased to be included among the TPRs that have been cleared to perform due diligence on DBRS's rated transactions. We anticipate this approval from DBRS will allow us to better meet the needs of our clients and will further bolster our continued business opportunities."
In addition to DBRS, NDA has also been approved by S&P Global Ratings, Fitch Ratings, Morningstar Credit Ratings and Kroll Bond Ratings Agency (KBRA) as a TPR for U.S. RMBS.
About New Diligence Advisors
New Diligence Advisors (NDA), founded in 2018, is a national third-party review firm, led by industry veterans and built on proven technology. Headquartered in Horsham, PA, NDA currently provides a full range of loan underwriting and review services for lenders and investors. The work takes into account all loan attributes, documentation and third-party data sources to identify and mitigate risk. Selene Holdings LLC is the parent of New Diligence Advisors, LLC. For more information, please visit www.selenenda.com.
SOURCE New Diligence Advisors