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End-to-end originator ServiceLink will be partnering with Home CORE, a national network of nonprofit service organizations that work to make homeownership possible to millions of low-to-moderate income families.
Home CORE works to offer downpayment assistant programs and rehabilitate foreclosed and condemned properties nationwide.
By partnering with Home CORE, ServiceLink will help increase the number of affordable homes by managing all of the activities required to transition these properties into move-in conditions. This includes assisting with due diligence, coordinating and supervising rehabilitation and repairs, providing title and closing services and supporting the loan origination process by counseling the borrower.
"By combining the assets and resources of more than 20 leading non-profit organizations, we have the scale to significantly impact housing needs across the country," said Rita Sullins, national program director of Home CORE.
Sullins added, "With that, however, come greater operational challenges in managing this large number of properties spread nationwide. ServiceLink's end-to-end capabilities make them the perfect partner to support our mission."
ServiceLink will bring a number of innovative products, services and technology solutions to the partnership, which will help mortgage lenders and servicers mitigate risk.
"I believe that by partnering with Home CORE to transform large pools of REO properties into viable homes for America's low-to-moderate income families, we will have a meaningful positive impact on both our nation's housing market and economic recovery," said Stacey Bayley, senior vice president, asset management with ServiceLink.
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