Green River Capital, GR Financial Achieve SAS 70 Certification

WEST VALLEY CITY, Utah--(BUSINESS WIRE)--Green River Capital (GRC), an REO asset management and loss mitigation provider for mortgage servicers, investment firms and banking institutions, and its sister company, GR Financial (GRF), announced they have completed a successful audit of internal controls by an independent CPA firm and have a SAS 70 Type I report available for their clients and clients’ auditors.

“The IT controls we’ve implemented reassure our clients that their data is secure and the Company’s operations are reliable”

GRC and GRF have also embarked on SAS 70 Type II and SSAE 16 certifications, which will result in audits and reports to be completed in the next four and 12 months, respectively. SSAE 16 is the new successor attestation standard that replaces SAS 70 as the premier attestation standard for service organizations

SAS 70 was developed by the American Institute of Certified Public Accountants (AICPA) for service providers who want to prove a high level of control effectiveness to independent auditors, and has become one of the most widely recognized auditing standards for service companies. SAS 70 is the authoritative guidance that allows service organizations to disclose their control activities and processes to their clients and their clients' auditors in a uniform reporting format.

GRC and GRF’s SAS 70 report provides details of the companies’ control environment, including controls of information technology (IT) and operations. The IT controls focus on the areas of system and logical access, backup and recovery, system and application change management, and job scheduling. “The IT controls we’ve implemented reassure our clients that their data is secure and the Company’s operations are reliable,” according to Christopher West, president of GRC.

The operational controls span the entire REO and short sale asset management process and focus on the areas of marketing administration; title curative, code violation and property registration resolution; HOA and property tax payment processing, and the expense and fee billing processing. “The SAS 70 audit and report clearly demonstrate that our operational controls are solid, enabling us to provide indispensable service and results, unmatched in the industry,” West added.

About Green River Capital and GR Financial

West Valley, Utah-based Green River Capital (GRC) and GR Financial (GRF) are leading REO asset management, short sale management, and loss mitigation providers. The companies leverage their proprietary technology and a nationwide network of attorneys, brokers, appraisers, contractors and title professionals to offer scalable and customized solutions. GRC provides REO asset management services, while GRF provides an end-to-end short sale program. A sister company, Infinity Valuation Services, provides a range of valuation services, including BPOs, appraisals, and desktop valuations.

For more information, visit www.greenrivercap.com.