How We’re Changing the Industry

There is no doubt that the mortgage due diligence industry, my industry, contributed to the mortgage meltdown and wider near-collapse of the U.S. economy. Investors relied on this industry to analyze the risky loans they were purchasing and apply fair pricing to the mortgage-backed securities that were in hot demand, creating a virtual pie-eating contest.

While there are many underlying reasons why investors went to the table to make risky deals without accurate, thorough and up-to-date analysis on the underlying loans (and, in many cases, no analysis at all), my industry now must play a leadership role in ensuring those flaws are fixed.

I founded Allonhill in 2008 with a mission statement: “We will change the mortgage industry.” This change involves better technology to provide investors with real-time, data-rich analysis and a new approach to using skilled analysts at the loan level and allowing that analysis to reach decision-makers.

We also focus on leadership that pushes investors and the regulators who oversee them to adopt prudent policies that expedite a return of liquidity in financial markets with better safeguards in place. We put an unprecedented eye toward transparency and full disclosure, to investors and onto the shareholder, and an elevation of the role of expert due diligence and risk management.

This not only is important to the financial sector, but also for the small businesses and families who rely on credit created in these systems.

For specifics about my plan to re-invent this industry, you can read this recent article I wrote I wrote for Phil Hall’s excellent publication, Secondary Marketing Executive. To learn more about what Allonhill does, feel free to watch and listen to segments about us on CBS Evening News and Marketplace.

Our Web site, www.allonhilll.com, also has an extensive archive of other news clips featuring the company. Check back with the Allonhill blog to hear thoughts from me and the talented people I work with on issues affecting our financial markets. You can let me know your thoughts by submitting a comment or sending me an e-mail at [email protected].