Independent Audit Verifies National Loan Exchange’s Internal Controls and Processes
Edwardsville, IL – KirkpatrickPrice announced today that National Loan Exchange (“NLEX”), a leading loan sales advisory firm, has received their SOC 2 Type I compliance report. The completion of this engagement provides evidence that National Loan Exchange has a strong commitment to deliver high quality services to its clients by demonstrating they have the necessary internal controls and processes in place.
SOC 2 engagements are based on the AICPA’s Trust Services Criteria. SOC 2 service auditor reports focus on a Service Organization’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy of a system. KirkpatrickPrice’s service auditor report verifies the suitability of the design and operating effectiveness of National Loan Exchange’s controls to meet the criteria for these principles.
“NLEX is committed to bringing our clients best-in-class services and information security,” said Tom Ludwig, General Counsel and Executive Vice President of NLEX. “Large-scale institutions reentering the debt sales market, as well as all debt sellers in this environment, should ensure their service providers provide high data protection standards, and the SOC 2 attestation demonstrates NLEX’s commitment to meet those needs.”
“The SOC 2 audit is based on the Trust Services Criteria. NLEX has selected the security and confidentiality principles for the basis of their audit,” said Joseph Kirkpatrick, Managing Partner with KirkpatrickPrice. “NLEX delivers trust based services to their clients, and by communicating the results of this audit, their clients can be assured of their reliance on NLEX’s controls.”
About National Loan Exchange, Inc.
National Loan Exchange, Inc. (“NLEX”) has completed over 5,000 sale transactions across numerous asset classes with a total face value in excess of $150 billion, including $2.7 billion in 2017 alone. Along with best in class sale advisory services, NLEX provides reliable market evaluations and recovery strategy analysis, using its experience from consecutive monthly sales for over 20 years. More information available at www.nlex.com
KirkpatrickPrice is a licensed CPA firm, PCI QSA, and a HITRUST CSF Assessor, registered with the PCAOB, providing assurance services to over 600 clients in more than 48 states, Canada, Asia, and Europe. The firm has over 13 years of experience in information security and compliance assurance by performing assessments, audits, and tests that strengthen information security and internal controls. KirkpatrickPrice most commonly provides advice on SOC 1, SOC 2, HIPAA, HITRUST CSF, PCI DSS, GDPR ISO 27001, FISMA, and CFPB frameworks. For more information, visit www.kirkpatrickprice.com, follow KirkpatrickPrice on Twitter (@KPAudit), or connect with KirkpatrickPrice on LinkedIn.