Carrington Property Services Obtains SSAE 16/SOC 1 Type II Internal Control Assessment Report
Rigorous assessment provides current and prospective clients with greater visibility and reassurance of robust internal control structure.
JULY 16, 2014 – SANTA ANA, CA -- Carrington Property Services, LLC (Carrington) announced today that it has obtained a SSAE 16/SOC 1 Type II report following an independent accounting firm's detailed review of Carrington’s processes and controls relating to operations. The rigorous Type II assessment, which included detailed testing of the national property management and REO asset management company’s controls, covered the following areas: control environment, risk assessment, monitoring, computer operations, data center operations, access/security, systems development, systems maintenance, and QA procedures.
"At Carrington, we are committed to upholding the highest industry and regulatory standards," said Kevin Cloyd, President of Carrington Property Services. "We are pleased with the results of our SSAE 16/SOC 1 Type II report, which we believe demonstrates Carrington’s commitment to compliance in all of our practices while providing industry-leading property and asset management services. As a result of this rigorous assessment, our clients can take comfort in the independent assessment of the effectiveness of Carrington’s internal controls, data security and operational infrastructure.”
The SSAE 16 updates the prior standard for Reporting on Controls at a Service Organization, the SAS70. The enhancements made from SAS 70 to SSAE 16 allow clients to have greater confidence when doing business with assessed companies. "Going through the comprehensive process to obtain the SSAE 16/SOC 1 Type II report should generate a high level of confidence in Carrington's security and operational controls. It is very important to us that our clients trust us to securely maintain the integrity of their data and manage our business in a tightly controlled environment, while knowing we have their best interests in mind,” added Cloyd.
About Carrington Property Services (CPS)
Carrington Property Services, LLC is a national asset management company specializing in the assessment management, rental and disposition of residential properties, with a focus in bank-owned properties. The company helps mortgage lenders, banks, credit unions, loan servicing companies and investors maximize the value of their single family residential real estate assets. Carrington Property Services is an indirect subsidiary of Carrington Holding Company, LLC and affiliated with an equal housing opportunity lender.
Carrington Property Services has grown its residential asset management capabilities since 2007, using skilled management and staff and significant investments in technology, with a strict focus on appropriate strategies for each individual asset. To learn more about Carrington Property Services, visit www.carringtonps.com.
About Carrington Holding Company
Carrington Holding Company, LLC (CHC) owns and operates multiple businesses that cover virtually every aspect of single family residential real estate transactions. Carrington’s 16 separate business units are organized into four distinct, but closely related, operating segments: Asset Management, which oversees investments in U.S. real estate and mortgage markets; Mortgage Servicing; Mortgage Lending; and Real Estate, which is divided into a real estate logistics sub-segment providing property asset management, preservation and rental services, and a real estate brokerage sub-segment which is comprised of a retail residential brokerage company as well as title and escrow services.
Some of CHC’s affiliate companies include Carrington Real Estate Services, LLC, Carrington Capital Management, LLC, Carrington Investment Services, LLC, Carrington Mortgage Services, LLC, Carrington Property Services, LLC, Carrington Home Solutions, L.P., Carrington Escrow, Inc., Carrington Title Services, LLC and Carrington Technology Solutions, LLC. Carrington Mortgage Services, LLC is an equal housing opportunity lender. To learn more about Carrington Holding Company, visit our website at www.carringtonhc.com.
Office: (949) 517-7313
Mobile: (714) 873-4275