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BANGALORE: Ocwen Financial Corporation has introduced Vendor Assurance, a Web-based vendor management tool that will make it easier, quicker and more profitable for mortgage originators to electronically manage the settlement process. It is used in conjunction with REALTrans, Ocwen's Web-based solution that automates and simplifies ordering, tracking and fulfilling real estate products and services.

With Vendor Assurance, lenders can easily control the real-time selection and management of vendors. Vendor Assurance enables lenders to establish automatic vendor selections for each specific settlement product or service — such as appraisals, title services or mortgage insurance — based on criteria established by the lender.

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