Home / Author Archives: Heather Cernoch (page 19)

Author Archives: Heather Cernoch

Real Property Insight Selects Mercury Network for New Valuation Service

The Oklahoma-based technology developer a la mode has teamed up with Real Property Insight to bring the industry a new valuation service for distressed assets. Real Property Insight is a specialized integrator of information and services focused on distressed asset disposition, and the company has selected a la mode's Mercury Network Vendor Management Platform to manage the valuation portion of its new product, the Real Property Insight (RPI) Report. a la mode estimates this valuation service will save the industry approximately $72 billion.

Read More »

Florida Housing Launches Hardest-Hit Fund Program Statewide

Unemployed or underemployed homeowners in Florida having difficulty paying their mortgages can apply for financial assistance from the Florida Hardest-Hit Fund beginning April 18. The Florida Housing Finance Corporation has been conducting a pilot of its Hardest-Hit foreclosure prevention program since October, and is now opening them up statewide. The agency has made several changes to the program, which is now expected to provide assistance to twice as many homeowners as previously estimated.

Read More »

Washington AG’s Investigation Uncovers Trustee Violations

The Washington Attorney General's Office says it has uncovered another problem that jeopardizes homeowners' chances of stopping a foreclosure - difficulty contacting trustees. Washington law requires foreclosure trustees maintain offices in the state and local phone numbers, but officials have discovered that some of the largest trustees are not in compliance, making it difficult for borrowers to legitimately stop foreclosure actions.

Read More »

FASConnect Processes 100 Million Proof-of-Performance Photos

Field Asset Services (FAS) successfully processed more than 100 million photos in one year via FASconnect, its online photo management system for proof of performance reporting. The system captures, documents, and securely shares photos of work performed in the field. Powered by Pruvan, FASconnect GPS certification and time and date-stamping capabilities to provide lenders and service providers a ""certified"" performance guarantee of work completed on REO properties.

Read More »

California Expands Eligibility for $2 Billion Foreclosure Relief Programs

The California Housing Finance Agency (CalHFA) expanded eligibility criteria for several of the Keep Your Home California programs to make them available to a larger number of families at risk of losing their homes, including those with home equity loans and recently originated mortgages. Keep Your Home California is a $2 billion federally funded initiative. Implemented statewide in early February, the programs are part of the U.S. Treasury Department's Hardest Hit Fund.

Read More »

NID Housing Counseling Agency Expands Use of HOPE LoanPort

The California-based NID Housing Counseling Agency now requires its counselors to use HOPE LoanPort as the primary tool for submitting home retention applications to mortgage servicers. HOPE LoanPort, developed by the HOPE NOW Alliance, is a Web-based tool that streamlines home retention applications on behalf of borrowers at risk of foreclosure.

Read More »

Freddie Mac Wins Dismissal of Federal Putative Class Action Lawsuit

A putative class action securities lawsuit filed against Freddie Mac in federal court in August 2008 has been dismissed, according to a statement from the GSE. Judge John Keenan of the U.S. District Court for the Southern District of New York granted Freddie Mac's motion to dismiss all claims brought by two pension funds alleging that the GSE misled shareholders about its exposure to risky mortgage loans.

Read More »

Survey: 60% of Americans Frown on Mortgage Abandonment

The majority of Americans say walking away from a mortgage should never be an option for homeowners, even those who are struggling to make their payments, according to a survey conducted by FindLaw.com. No reliable figures exist to pinpoint exactly how many homeowners choose strategic default, which entails walking away and refusing to make monthly payments, but industry experts agree that it has become a growing concern in the fallout of the housing crisis.

Read More »

NCCI Selects IndiSoft Technology to Improve Customer Contact Efforts

National Creditors Collections Inc. (NCCI), a provider of field contact, loss mitigation, and onsite inspection services, recently starting using the RxOffice loss mitigation portal from IndiSoft, a technology development firm specializing in default management. NCCI plans to use the technology to enhance its field contact efforts for hard-to-reach homeowners.

Read More »

Specialty Servicer Sees Increased Demand to Handle Borrower Inquiries

Servicers swamped with borrower inquiries and follow-up requirements are turning to specialty providers for quick resolution, according to Wingspan Portfolio Advisors, a specialty and component servicing firm. Wingspan says demand for its ""high-touch"" services has increased rapidly over the last six to nine months, largely due to the robo-signing crisis and related foreclosure slowdowns.

Read More »

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.