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Home | Author Archives: Heather Cernoch

Author Archives: Heather Cernoch

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LPS Applied Analytics Introduces Home Price Index

The Applied Analytics division of Lender Processing Services, Inc. recently introduced the LPS Home Price Index (HPI). The LPS HPI shows historical price trends for residential properties in the United States, offering estimates of property values that underlie residential mortgage portfolios and securities. LPS says the new tool is a reliable way to estimate borrower stress, negative equity, and potential for default and loss.

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Allonhill Hires New Managing Director of Due Diligence

Allonhill, an independent third-party review firm specializing in mortgage due diligence and credit risk management, hired 25-year mortgage industry veteran Jennifer LeSueur as managing director of due diligence, overseeing Allonhill's private-sector due diligence operations. LeSueur previously served as director of underwriting at Teletech Loan Services and was VP of credit risk oversight at Aurora Loan Services.

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South Florida’s New Foreclosure Filings Fall 51% in Second Quarter

During the second quarter of 2011, foreclosure actions plunged by 51 percent in the tri-county South Florida region compared to the same three-month period in 2010, according to a new report from CondoVultures.com. Lenders filed close to 7,200 notices of default between April and June in Miami-Dade, Broward, and Palm Beach counties. Nearly 14,800 were filed in the second quarter of 2010. At the current pace, foreclosure filings in 2011 would rank as the fewest number of actions since the South Florida real estate downturn began.

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REO Allegiance Introduces Smartphone Apps for Field Contractors

REO Allegiance, a national property preservation and eviction services firm headquartered, now offers custom smartphone applications for property preservation contractors. Field services contractors can view work orders, check company communications, submit updates and bids, take and upload photos, and complete and submit documents directly to REO Allegiance while in the field. Contractors can also navigate and plan routes.

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WFG National Title Grows Presence in Washington with Acquisition

Williston Financial Group, LLC (WFG), an Oregon-based holding company and parent of multiple real estate and mortgage services firms, recently expanded to Washington with the acquisition of Northpoint Escrow & Title. Northpoint serves Puget Sound, Snohomish, King, and Pierce counties in Washington, including the Seattle and Tacoma metropolitan areas. WFG says it will continue to expand nationwide.

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Chief Executive of Lender Processing Services Resigns

Lender Processing Services (LPS) announced Wednesday that Jeffrey S. Carbiener has stepped down from his positions as CEO, president, and company director for health-related reasons, effective immediately. The Florida-based firm has established a committee to search for new leadership. In the interim, Lee A. Kennedy, executive chairman of the board and former CEO of LPS's prior parent company, Fidelity National Information Services, Inc., will take on the responsibilities of president and CEO.

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HOPE LoanPort Now Live in All 50 States, D.C. and Puerto Rico

HOPE LoanPort, a proprietary, Web-based tool used by non-profit housing counselors, housing finance agencies, investors, and major mortgage servicers, recently added North Dakota to its roster, making it live in all 50 states, the District of Columbia, and Puerto Rico. The nonprofit organization, which recently completed its first full year of operation, allows housing counselors to submit an application, including the upload of homeowner documents, for home retention in a secure environment.

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eMortgage Logic Announces New Mobile Application

eMortgage Logic (EML), a Texas-based property valuations provider, recently introduced beta testing of its new mobile application. The application is offered to its nationwide broker network on a limited basis for the first 30 days, and full implementation is expected in August 2011. The EML app allows agents to accept orders, review open and pending orders, and map subject properties in the field via smart phones and tablets.

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Wells Fargo to Host Free Workshop for Washington Customers

More than 5,000 Washington state homeowners have been invited by Wells Fargo to participate in a free workshop this Thursday and Friday in Bellevue. Designed for borrowers facing financial hardships, the two-day workshop targets Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage, and Wells Fargo Home Equity customers. The Washington event is Wells Fargo's 16th home preservation workshop in 2011.

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Prospect Mortgage Offers Renovation Loans for Fannie Mae REOs

Prospect Mortgage, a California-based lender authorized to provide HomePath financing for Fannie Mae, now offers the HomePath Renovation Mortgage. HomePath is Fannie Mae's vehicle for the marketing and disposition of REO properties the GSE has acquired through foreclosure. The HomePath Renovation financing tool allows homebuyers to purchase a Fannie Mae HomePath property and include up to $35,000 for non-structural repairs and restoration as part of the loan.

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