MDMC Successfully Completes SAS70 Type II Audit
MDMC, a leading provider of mortgage loan due diligence and agency delivery services, has successfully completed a SAS70 Type II Audit for the audit period July 1, 2008 through December 31, 2008.
Sussex, WI, March 04, 2009 --(PR.com)-- MDMC, a leading provider of mortgage loan due diligence and agency delivery services, is pleased to announce that it has successfully completed a SAS70 Type II Audit for the audit period July 1, 2008 through December 31, 2008. The independent audit was conducted on MDMC’s general controls supporting the Due Diligence Underwriting and Securitization Services and resulted in a report without an exception -- the best possible result.
MDMC’s Executive Management team is committed to preserving the security and privacy of its information and information resources. The protection of sensitive information, both for the firm as well as its clients, is an integral part of its daily operations. Its Information Security Program is characterized as the preservation of confidentiality, integrity and availability of information. This preservation is achieved by implementing a suitable set of controls established to ensure that MDMC’s specific security objectives are met. A SAS70 Audit provides an independent check of these controls. Along with compliance with Gramm-Leach-Bliley legislation and State Breach Disclosure Act legislation, completion of a SAS70 Type II Audit positions MDMC to meet industry and client information protection needs.
The Statement on Auditing Standards (SAS) No. 70 (Service Organizations) was developed by the American Institute of Certified Public Accountants (AICPA) and is widely recognized by the financial services industry for its in-depth audit of a firm’s control objectives and activities. A Type II audit not only includes a review of a company’s control objectives and activities but also includes tests of operating effectiveness for those controls. The Type II report includes an independent service auditor’s description and opinion of controls as well as the description and results of the tests performed on those controls.
In order to ensure that its specific security objectives are met, MDMC contracts annually with a nationally recognized independent auditing firm specializing in SAS70 audits. Following rigorous testing for the 2008 audit period, the auditing firm issued a report stating that the controls placed in operation were suitably designed to provide reasonable assurance that the objective would be achieved and that the tests performed on these controls were operating with sufficient effectiveness.
About MDMC
Founded in 1992, MDMC provides mortgage loan due diligence services and agency delivery services. MDMC understands the lending industry and applies its unique, customized solutions to provide clients with unsurpassed results. For more information about MDMC and to read more about its wide array of services, please visit the company’s Web site at www.mdmc.com or contact Greg Richardson at 704.557.1713 (greg.richardson@mdmc.com).
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MDMC’s Executive Management team is committed to preserving the security and privacy of its information and information resources. The protection of sensitive information, both for the firm as well as its clients, is an integral part of its daily operations. Its Information Security Program is characterized as the preservation of confidentiality, integrity and availability of information. This preservation is achieved by implementing a suitable set of controls established to ensure that MDMC’s specific security objectives are met. A SAS70 Audit provides an independent check of these controls. Along with compliance with Gramm-Leach-Bliley legislation and State Breach Disclosure Act legislation, completion of a SAS70 Type II Audit positions MDMC to meet industry and client information protection needs.
The Statement on Auditing Standards (SAS) No. 70 (Service Organizations) was developed by the American Institute of Certified Public Accountants (AICPA) and is widely recognized by the financial services industry for its in-depth audit of a firm’s control objectives and activities. A Type II audit not only includes a review of a company’s control objectives and activities but also includes tests of operating effectiveness for those controls. The Type II report includes an independent service auditor’s description and opinion of controls as well as the description and results of the tests performed on those controls.
In order to ensure that its specific security objectives are met, MDMC contracts annually with a nationally recognized independent auditing firm specializing in SAS70 audits. Following rigorous testing for the 2008 audit period, the auditing firm issued a report stating that the controls placed in operation were suitably designed to provide reasonable assurance that the objective would be achieved and that the tests performed on these controls were operating with sufficient effectiveness.
About MDMC
Founded in 1992, MDMC provides mortgage loan due diligence services and agency delivery services. MDMC understands the lending industry and applies its unique, customized solutions to provide clients with unsurpassed results. For more information about MDMC and to read more about its wide array of services, please visit the company’s Web site at www.mdmc.com or contact Greg Richardson at 704.557.1713 (greg.richardson@mdmc.com).
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Contact
MDMC
Greg Richardson
704-557-1713
www.mdmc.com
Greg Richardson
704-557-1713
www.mdmc.com
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