Single Source Solution for Institutional Clients
Buying, Selling, Managing and Securitizing Loans
Mission Global was formed by combining Mission Capital’s mortgage services business unit with Global Financial Review.
Clients no longer need to search for disparate services from different firms.
Mission Global assembles them all in a cohesive Single Source Solution for Institutional Clients.
A Single Source Solution for Secondary Market Mortgage Service Needs
We meet client needs through
a unique secondary market
approach to each assignment.
We have completed assignments
for many of the largest financial
firms in the US - before,
during and after the most
recent economic crisis.
We use market-tested
proprietary information systems,
platforms and models.
Collateral documents are the only evidence you have for ownership and authority to actively service the loans you are purchasing or are already in your portfolio. Engaging an expert to assist you in assessing risk and managing this critical area increases returns on your investment while minimizing risk associated with either servicing delays or compliance to government standards.
Mission Global supports some of the largest banks and investment funds on the following areas:
- Risk Assessment based on Collateral Inventory and/or Exception Reports
- Full Collateral File Review including complete Chain of Title
- Curing Collateral Exceptions (Mission excels in resolving missing intervening assignments)
- Prepare Assignments and Endorsements; Recordation of Transfer Documents
Our experienced team has the expertise to uncover opportunities related to title issues that reduce losses, minimize risk and improve execution for whole loan sales, securitization, financing or to improve overall loss mitigation in servicing.
- Review Full Title Report or Title Exception Report and Provide Risk Analysis of lien position, title encumbrances, vesting, judgement, and other issues
- Title Policy Inventory Assessment
- Cure Missing Title Policies and/or Procure new Title Policy
- Process or rebut Repurchase claims
- Title Claims Management
Mission Global’s expertise in whole loan sales management can be customized to augment and enhance Buyers and Sellers transaction management teams. Our secondary market standards approach ensures compliance with secondary market requirements while minimizing cost through the advanced technology and proven processes.
Services include the following as standalone or in combination with any of our other services:
- Data Integrity Review and Data Cure
- Pre-bid Risk Analysis and Loan Valuation Services
- Third-party Oversight Services (Title Searches, Property Valuation, etc.)
- Settlement Management and Reconciliation
Mission Global improves our client’s efficiencies in managing the complex nature of servicing rights acquisitions and transfers:
- Pre-Transfer Planning to establish all key processes and participants
- Data Preparation and Mapping plus confirmation of proper notifications
- Transfer Execution to include confirmation audits on data setup and payment reconciliation to meet Regulatory Standards
- Interim Servicing Report Reconciliation
- Trailing/Missing Document Management
- Life of Loan Corporate Advance Audit and Reconciliation
Sellers looking to deliver qualified seasoned conforming loans often need a partner to help navigate the operational, data and contractual obligations of the Agencies guidelines. Mission Global’s experienced and dedicated team excels in agency data management, delivery, processing, back-office, and related functions associated with agency delivery requirements:
- DF1 Data Capture
- DF1 Submission
- Re-underwriting and Regulatory Compliance Verifications
- ULDD Data Capture and Transmission
- Collateral Delivery Management
With an experienced staff of due diligence professionals versed in GSE, as well as a variety of non-Agency underwriting guidelines and programs, Mission Global specializes in loan due diligence for the acquisition, sale, valuation, or securitization of loan portfolios, for both performing and non-performing assets/portfolios. We provide full range of Due Diligence analyses, compliance and reporting services.
- Review origination underwriting; re-underwrite loans to underwriting guidelines
- Review credit and borrower analysis
- Highlight potential fraud situations; independently verify income, assets, employment, and occupancy status when indicated
- Audit RESPA, HOEPA, QM/ATR and other federal, state and local compliance requirements
- Confirm QM/ATR Compliance
- Review property values; reconcile and report variations in value
- Exception Reporting and Clearing
Loan origination issues and other problems associated with origination and underwriting processes, such as guideline adherence or failures to meet regulatory requirements can have very negative, costly and otherwise detrimental impact on your business. Mission Global offers specialized re-underwriting services to reduce hiring costs, increase expertise and efficiency, ensure compliance and greatly reduce recourse risks.
- Services are customized to conform underwriting compliance, resolve issues and ensure that loans meet requirements for trading or purchase
The industry has witnessed record levels of mortgage fraud, ethical issues, questionable underwriting, and breaches of contractual representations and warranties over the past decade. This has resulted in near record levels of delinquencies, foreclosures, defaults that have had significant negative impact on portfolio manager and investors. Our services are tailored to the particular needs of our clients ranging from litigation support to loss mitigation, repurchase or breach remedies and/or defense against repurchase demands.
- Forensic loan level and document reviews to identify adequacy and other potential issues
- Support litigation, putback and other recovery efforts
- Ensure compliance
- Maximize investor/portfolio manager’s recovery opportunities
The regulatory landscape is ever evolving especially since the enactment of Dodd-Frank and the associated CFPB rules related to QM/ATR Compliance. Mission Global’s proprietary compliance engine provides efficient, comprehensive, and cost-effective compliance assessments. Our compliance engine is continually updated to reflect changes in rules and regulations, and is audited annually by outside counsel. Clients rely on our robust system and processes to limit risk exposure and increase the profitability and marketability of their portfolios.
- Full compliance with Federal, State, County, Local high cost and anti-predatory laws including the Qualified Mortgage and Ability to Repay requirements
- Truth in Lending Act, Regulation Z, and Right of Rescission adherence
- State high-cost, anti-predatory, and consumer lending laws and regulations
- State-specific prepayment penalties and late charges and required documentation
- County and city high-cost and anti-predatory laws and regulations
- Borrower repayment ability
Ensuring portfolio management is vital to maximize return on investment. Not to mention the regulatory landscape has been heightened considerably by BASEL III and other recent regulatory changes. Lenders and investors alike have sought out new servicing control measures. Mission Global identifies loan level and systemic servicing issues to increase loan performance and decrease loss severity. Our team of professional are extremely experienced and adept in all aspects of loan servicing and Surveillance to ensure that loan and portfolio level performance meets or exceeds industry standards.
- Validation of servicing history and loan activity is essential to successful asset management.
- Review policies and procedures to determine compliance in day-to-day functions and adherence to the servicing agreements
- Review servicer workflow and departmental handoffs
- Provide client focused reporting of servicer review findings and evaluation summary
- Collect servicing data from servicers and capture payment history; review accuracy of payment application
- Review and summarize collection notes
- Monitor general servicer activity including timely posting of payments and liquidation proceeds
- Assess loss mitigation efforts
The Numbers Never Lie
The strength of our results is a reflection of our value-add proposition>
Many of the leading financial institutions in the US have partnered with Mission and Global
All of our technology is proprietary and market tested
GUARD© - Global Underwriting and Asset Review Database
GUARD© (Global Underwriting and Asset Review Database) processes asset data from multiple sources and presents this information to clients in a concise and uncomplicated platform. GUARD© is integrated with our proprietary compliance engine and complies with Federal, State, County, Local high cost and anti-predatory laws including the Qualified Mortgage and Ability to Repay requirements. The GUARD© system along with our due diligence process and reports are reviewed and accepted by top rating agencies such as Standard & Poor’s, DBRS, Kroll and Fitch Ratings.
GRADE© - Global Re-underwriting and Decisioning Engine
GRADE© (Global Re-underwriting and Decisioning Engine) captures underwriting guidelines, data and analytics to automate the re-underwriting process, improving efficiency and continuity in our re-underwriting and forensic reviews. GRADE© captures and processes loan-level data and is customizable for the scope of each assignment. GRADE© generates reporting that identifies underwriting violations, borrower misrepresentations, title deficiencies, property damage, regulatory compliance concerns, breaches in representation and warrants, poor loan performance, and other exceptions.
Secondary Market Surveillance (SMS)
Secondary Market Surveillance (SMS) is an end to end proprietary diligence platform constructed on robust and secure Citrix Sharefile and Force.com architecture. The system allows for efficient and exacting due diligence, file review, and data acquisition. SMS has been designed for continual updating during the due diligence process and automatically back tests data for accuracy.
Mission Analytics Platform ("MAP")
Mission Analytics Platform ("MAP") is a proprietary system for loading, transforming, validating, and visualizing data. The MAP analytics engine supports increased productivity through rapid data analysis, management, and reporting. MAP accommodates data from any servicing or asset management platform in CSV or XLSX format with full automation from data load to reporting. MAP can process 100k+ records in seconds and is built to handle migration of mapping, validation rules, and report formats between projects.
Joseph A. Runk, Jr.
Chief Executive Officer and Board Member
Mr. Runk has over 25 years of experience in real estate capital markets and banking. As Chief Executive Officer of Mission Global, he is responsible for strategic development, client relationships and overall management of the firm. Mr. Runk has demonstrated abilities in secondary marketing, transaction management, risk management and corporate finance. Mr. Runk is Co-Founder of Mission Capital Advisors. In his tenure at Mission Capital, he has advised a variety of clients on the sale of nearly $55 billion of mortgage loan portfolios and over $150 billion of asset valuations. Prior to forming Mission Capital in 2002, he was the head of nonperforming residential mortgage loan acquisitions at GMAC-RFC and Ocwen Financial, and was a bank examiner with the Federal Reserve Bank of Richmond. Mr. Runk has undergraduate degree in Economics from the University of Richmond and an MBA from Duke University.firstname.lastname@example.org
President and Board Member
Mr. Staley has over 25 year of experience in mortgage loan due diligence and portfolio management. As President of Mission Global, Mr. Staley is responsible for client relationship development, corporate development and overall management of the firm. Mr. Staley founded Global Financial Review in 1994 and has forged business relationships with an extensive list of Wall Street firms, international banks, hedge funds, and other investment groups. Prior to forming Global Financial Review, Mr. Staley acted as an independent asset management consultant, providing due diligence services and personnel to companies such as Fairbanks Capital Corporation, National Loan Investor and David Kaufman & Company. Mr. Staley Mr. Staley holds a Bachelor of Arts degree in Economics from Western State College of Colorado.email@example.com
William David Tobin
Mr. Tobin has over 22 years of experience in mortgage trading, risk management, investment banking and commercial real estate finance. As a member of the Board of Directors of Mission Global, Mr. Tobin is responsible for strategic and corporate development. Mr. Tobin is a Co-Founder of Mission Capital. In his tenure at Mission Capital, Mr. Tobin has advised clients on the sale of nearly $55 billion of mortgage loan portfolios, $150 billion of asset valuations, over $3 billion in debt and equity placements. Mr. Tobin is also principally responsible for supervising the prime Mission Capital contracts with the FDIC, Freddie Mac and multiple Federal Home Loan Banks. Prior to forming Mission Capital in 2002, he was associated with a national brokerage firm, where he started and ran a loan sale advisory business. From 1992 to 1994, Mr. Tobin was an asset manager in the Asset Resolution Department of Dime Bancorp. Mr. Tobin has a Bachelor of Arts in English Literature from Syracuse University and attended the MBA program, concentrating in banking and finance, at NYU’s Stern School of Business.
Mr. Tobin is a member of the board of directors of H Bancorp (www.h-bancorp.com), a $1.5 billion multibank holding company that acquires and operates community banks throughout the United States. Mr. Tobin is also a member of the Real Estate Advisory Board of the Whitman School of Management at Syracuse University.firstname.lastname@example.org
Executive Vice President and Board Member
Mr. Zehnle has considerable experience and executive leadership in commercial real estate operations, commercial and residential lending, and financial services. In his role at Mission Global, Mr. Zenhle is responsible for day-to-day operations and other management-related strategic and corporate development matters. Mr. Zehnle joined Global Financial Review in August 2013 as an executive management consultant to Mr. Staley and became and executive team member in December 2013. Prior to joining Global Financial Review, Mr. Zehnle was Vice President of Finance and Operations for a $350 million commercial real estate lender where he was responsible for finance and loan operations. Mr. Zenhle holds a Bachelor of Arts degree in Accounting and Business from Western State Colorado University. He also holds an MBA from the Pepperdine University Graziadio School of Business and Management.email@example.com
Executive Vice President and Board Member
Mr. Bostic has over 25 years of experience in mortgage trading, risk management and operational management working for major financial firms and investment banks, including Credit Suisse, DLJ, Bayview Financial, Ocwen Financial, and Prudential Home Mortgage. In his role at Mission Global, he focuses on market expansion, strategic direction and operational excellence. Mr. Bostic will remain in his role at Mission Capital as Managing Director, Residential Trading and Sales. In this capacity, he is responsible for the residential trading business where he has advised high profile commercial and government clients on the more than $40 billion of residential mortgage loan portfolio sales and agency deliveries. Mr. Bostic received a Bachelor of Science in Business Management with concentrations in finance and economics from West Virginia University.firstname.lastname@example.org
Executive Vice President
Mimi Grotto has over 20 years of experience in mortgage products sales and trading working for major investment banking firms, including Credit Suisse First Boston, Fortress, and GE Capital. In her role at Mission Global, Ms. Grotto is primarily responsible for client relationship development. Ms. Grotto will remain her role at Mission Capital as Managing Director, Residential Sales. In this capacity, Ms. Grotto has been responsible for over $15 billion of agency deliveries and $20 billion of whole loan sales. Ms. Grotto holds a Bachelor of Science degree in Business Administration from Babson College.email@example.com
Senior vice President
Ray Ralph has over 30 year of experience in the residential mortgage industry and has an extensive skill set that includes loan servicing, risk management, retail and wholesale originations, underwriting and due diligence for performing, subperforming and nonperforming assets for firms including Credit Suisse First Boston and Goldman Sachs. In his role at Mission Global, Mr. Ralph is responsible for operational integration and management of the firms. Mr. Ralph will remain in his role at Mission Capital as Managing Director, Residential Operations. In this capacity, Mr. Ralph was responsible for the operation management of $35 billion in whole loan transactions and agency deliveries. Mr. Ralph holds a Bachelor of Arts degree from Carleton University in Ottawa, Canada.firstname.lastname@example.org
Senior Vice President and Board Member
Ms. Kubena has over 30 year of experience in the mortgage industry, specializing in due diligence, forensic audits, and servicing oversight. She is an expert in federal and state compliance regulations, FNMA and sub-prime underwriting guidelines, and foreclosure and bankruptcy regulations. In her role at Mission Global, Ms. Kubena is responsible for due diligence, re-underwriting, forensic reviews and other operational matters. Prior to joining Global Financial Review, Ms. Kubena worked in fraud investigations for her own firm, Kubena and Associates, and prior to that, she served as a Senior Loan Officer at American Real Estate.email@example.com
We regularly interview candidates with qualifications for underwriting, collateral review and cures and other roles. We offer a range of short and long-term opportunities that include remote and on-site opportunities. Mission Global is an equal opportunity employer.
To access our job listings and apply for open positions, please visit our career portal here.
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