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HW Magazine

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February 2016

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From HW Magazine

Global reach: Exploring the risks and rewards of offshore mortgage servicing

Do perks outweigh the pitfalls?
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
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Feature Stories

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How one servicer created a model for reversing community blight

Rehabbing whole neighborhoods to create affordable housing
Houses that have been rehabbed in the recovery project are now being sold as quickly as they are completed, and the profit on each house goes right into rehabbing the next one. In the past two years, the company has rehabbed and sold 58 homes, and has plans to do 200 more.
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From HW Magazine

Company Spotlight: Loan Protector

Protecting clients from risks related to lender placed insurance and insurance tracking
Loan Protector has established a dedicated team of compliance and risk management professionals to monitor and adapt its operations and services as regulations change, providing oversight for the company’s outsourced insurance tracking and lender placed insurance programs.
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From HW Magazine

Hot Seat: Krish Swaminathan of Sutherland Global Services

Outsourcing partnerships benefit mortgage lenders
Ramping up staff and adding capacity to handle volume swings is costly and time consuming to mortgage lenders. Partnering with a seasoned provider like Sutherland Mortgage allows lenders to expand without additional staff or taking on another lease.
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From HW Magazine

Auction.com expands into non-distressed properties

Multi-channel approach reaches potential buyers around the globe

As consumers demand more access to information, Auction.com has developed mobile applications designed to meet those needs – an iPad app that has facilitated tens of millions of dollars in sales over the past year, and an iPhone app that has proven popular among investors.


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From HW Magazine

Chronos Solutions plans aggressive growth with customizable resources

Offers transactional and business process management services
The fact that Chronos, formerly known as Matt Martin Real Estate Management, is neither a servicer nor a lender means that it doesn’t compete with its clients on any level and can offer uniquely adaptable solutions.
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From HW Magazine

DIMONT broadens offerings with loan administration services

Hazard claim provider is agile in all risk categories
While providing hazard claims adjustment has always been DIMONT’s priority, clients are now leveraging DIMONT’s technology and industry knowledge to offer solutions for other insurance-related services. DIMONT has also added a new portfolio of loan administration services.
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From HW Magazine

First American Mortgage Solutions brings clarity to business decisions

DataTree provides valuable insight
Third-party review of a servicer’s process allows servicers an opportunity to test what they’ve implemented and refine before an agency or regulatory audit. Servicing QC from First American Mortgage Solutions gives servicers a variable-cost solution that lets them take a proactive approach.
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From HW Magazine

LERETA offers flexible spectrum of tax services

Generates significant cost reductions for lenders and servicers
LERETA helps customers navigate through the system architecture options for taxes in each state and data exchange alternatives by performing continuous research, deploying advanced systems and engaging in strategic partnerships.
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From HW Magazine

National General Lender Services adapts to a changing marketplace

Offers compliant lender placed insurance solutions
National General Lender Services offers services that go beyond the basics, including compliance guidance aided by tools such as the ComplianceTrack system, which identifies compliance-related risks, and through continuous customer engagement on compliance-related issues.
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From HW Magazine

Quality Claims Management mitigates servicer risk in MI

Reliable reporting and transparent technology solutions are key
Quality Claims, with its expertise, processes and technology, mitigates servicer risk across a spectrum of servicing functions. Though initially focused on hazard insurance recovery, Quality Claims leveraged its decades of servicing experience to develop a broad range of solutions, including the launching of its investor services group in 2010.
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From HW Magazine

RES.NET delivers enterprise solutions with adaptability

Agile solutions for REO, loss mitigation and valuation portals
RES.NET has created a seamless implementation process that enables customers to easily transmit and backup all collected data to image repositories and systems of record, while its custom fields make data mapping sessions and data migration efforts as seamless as possible.
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From HW Magazine

Safeguard Properties innovates new technology solutions

Anticipating future challenges to mitigate risk
Safeguard has been testing the use of video in the field as one of the most promising new technologies for field services companies. Video gives the boots-on-the-ground inspectors and contractors the ability to report damages and receive bid approvals in real time, and provides more detailed evidence of any issues at a property.
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From HW Magazine

VRM Mortgage Services provides compliant outsourcing solutions

Formed The Mortgage Collective to find new approaches to industry problems
The Mortgage Collective is a natural outworking of VRM’s innovative vision of doing business from a different perspective to benefit both the company and the communities it serves. VRM is a certified minority-owned business, committed to promoting a culture of diversity and inclusion.
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From HW Magazine

WALZ minimizes compliance risk for lenders and servicers

Enhanced technology drives critical borrower communication and fulfillment services
Because WALZ has embedded compliance into every step of its process, it helps lenders and servicers — regardless of their level of operational efficiency — to control costs and minimize the risk of regulatory scrutiny while simultaneously providing greater transparency.
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From HW Magazine

Wolters Kluwer Financial Services provides dynamic content and forms

Goes beyond traditional document fulfillment
Wolters Kluwer’s compliant document solutions enable it to generate, print, fulfill and deliver compliant dynamic content. By using dynamic content, Wolters Kluwer can assist in reducing the number of “customized” documents historically used by servicers to meet state-specific regulatory guidelines.
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Commentary

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From HW Magazine

Why conservatorship of Fannie and Freddie must end

Working people need access to responsible and sustainable mortgage loans
The fate of the Fannie and Freddie investors is not our concern. We are concerned about what happens to communities. And what is happening right now is that the future ability of working class families to obtain responsible home loans is in serious jeopardy.
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From HW Magazine

PACE Loans: Are the improvements worth it?

New data explains the financial benefits of energy efficient upgrades at resale.
If a home moving to foreclosure utilizes the core PACE approach of having the assessment (in this case subordinated) travel with the property (as all tax assessments do), would the GSEs and FHA be worse off than a similarly situated home that had no PACE improvement or assessment, because it would realize a potentially lower sale value?
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