Digital Risk Says All Is Well

Digital Risk Says All Is Well

Company fires back at news story

Sept. 29, 2014

By Mortgage Daily Staff

While recent coverage of Digital Risk LLC might have suggested otherwise, the company says all is well despite the upcoming departure of its two top executives.

Mortgage Daily published a wire service story Sunday indicating that the chief executive officer and the president of Digital Risk are leaving.

In addition to respectively being CEO and president, Peter Kassabov and Alex Santos are also the co-founders of the Maitland, Fla.-based company.

But a spokeswoman for Digital Risk took issue with other parts of the story.

Brandie Young explained that even though the story said Digital Risk is wrestling with an unexpected business downturn, it is in fact facing normal business fluctuations in the mortgage industry.

“It’s quite frustrating when such gross inaccuracies in reporting occur, as it tends create a bit of panic where none need exist,” Young said in a written statement.

She also noted that the fluctuations “have no correlation to Kassabov and Santos’ departure.”

Young suggested that it did not hand “out a new round of pink slips,” as written in the article. Instead, it filed a Worker Adjustment and Retraining Notification, which “warns that a job ‘could’ be terminated,” whereas “a pink slip is instant termination.”

She also took issue with the statement in the story that said the jobs will end on Nov. 19, clarifying that “the jobs may end Nov. 19.” Young called comments about how Kassabov, Santos and other investors are in line to receive an additional $27 million “speculation.”

Young clarified that out of 750 WARN notifications filed in February, the net layoff was 208.

The claim in the story that “The company lost a major client — J.P. Morgan Chase — earlier this year” is “absolutely untrue,” according to Young.

“The mortgage market is always in flux and malicious reporting doesn’t help,” Young stated. “In this case, Digital Risk is quite stable.

“While the company will miss Mr. Kassabov and Mr. Santos, the succession will be smooth, particularly with the third founder Jeffrey Taylor in place to ensure clients receive the best possible services and solutions.”

Reprinted by Digital Risk LLC with permission from Mortgage Daily
Copyright © 2014 Mortgage Daily


Digital Risk Signed Definitive Agreement to be Acquired by Mphasis

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Digital Risk, the nation’s largest independent provider of mortgage risk, compliance and transaction management solutions, today announced it has entered into a definitive agreement to be acquired by global services provider, Mphasis, a Hewlett Packard (HP) company.  The acquisition provides Digital Risk a global footprint to accommodate clients’ global risk and compliance needs, access to U.S. facilities to further accelerate growth of U.S. operations and access to Mphasis’ technology and analytical centers of excellence.

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 Analysis from 100,000 loan modifications identifies 32 discreet borrower behavior segments more reliable in predicting redefault than credit history

CHICAGO, ILDigital Risk, the nation’s largest provider of mortgage risk, compliance and transaction management solutions, today at the MBA Annual Convention released findings from the analysis of 100,000 loan modifications using the Veritas™ Borrower Segmentation Engine which models borrower behavior to predict the likelihood of redefault and provides the reasons why the event will occur. These findings validate borrower lifestyle and behavior modeling, which is becoming a standard metric in the modification and lending decision processes.

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Digital Risk Unveils Veritas

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Digital Risk Named Top Financial Services Company

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2012 SMART AwardsACG SMART Awards Recognize Central Florida Companies Making Outstanding Contributions to the Business Community

Digital Risk LLC, the nation’s largest provider of mortgage risk, compliance, and transaction management solutions, today announced it was awarded top financial services company at the ACG SMART Awards Ceremony. The awards were announced at a luncheon in Orlando on May 18, 2012, and are given to companies that bring value to Central Florida through outstanding accomplishments in culture, growth, business creativity, and economic contribution.

“As a company headquartered in the Orlando area, we are committed to the community and doing right by our employees and the citizens of Florida,” said Peter Kassabov, Digital Risk’s Chief Executive Officer. “The Association of Corporate Growth has a stellar reputation for bringing together middle-market, high-growth companies, and we are honored to be recognized by such an excellent organization.”

The Association for Corporate Growth® (ACG®)is a global community for middle market M&A dealmakers and business leaders focused on driving growth. The Orlando chapter connects growing businesses in Central Florida with local, national, and global capital markets to facilitate relationship building between these companies, capital sources, and professionals active in corporate finance.

“At ACG, our members are business professionals at the top of their game, and we are proud to recognize the best of the best with our annual SMART Awards,” said Melanie Fernandez, President of ACG Orlando. “Digital Risk’s impressive growth and ongoing commitment to creating Florida-based jobs, as well as attracting top talent to the area made the company a natural choice for the 2012 award in the financial services category.”

For more information on the ACG and the SMART Awards, visit


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Digital Risk Chairman Provides Mortgage Industry Perspective to White House Business Council

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