What is a Vendor Management Company (VMC)?
A. Vendor Management Company offers bundled services to the mortgage lending business by establishing a network of vendors which provide one or more of the necessary products and services to close a real estate transaction. By using vendors with expertise in particular fields of service, the lending institution is able to deal with one point of contact, the vendor manager, and still be confident that their loans are serviced by competent providers. The internal cost of tracking down the work of many providers is passed on from the lender to the VMC.
