Home / Author Archives: Heather Cernoch (page 21)

Author Archives: Heather Cernoch

REALcondition Report Helps Lenders Comply with New Guidelines

A new exterior property value analysis tool called REALcondition Report from PLATINUMdata Solutions is designed to assist lenders in complying with the new Interagency Appraisal and Evaluation Guidelines. While automated valuation models (AVMs) on their own do not address property condition - since that requires an actual visit to the physical property - REALcondition Report is based on an in-person exterior assessment.

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CoreLogic Credco Announces Data Enhancements to Fraud Risk Report

CoreLogic announced this week that the company's Credco division has launched a data-enhanced version of its ENCORE report, which the company says provides lenders with a 360-degree view of mortgage lending and servicing risk. In a recent test of more than 1 million loans, it identified 70 percent of the lender-identified fraud and more than 50 percent of the total foreclosure and charge-off losses.

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Coester Appraisal Group Hires Chief Developer, National Sales Director

Coester Appraisal Group, a Maryland-based appraisal management company, recently hired two new executives. Haroon Khalid is the company's new chief developer, and Joseph Bryant will serve as national sales director. According to a statement from the company, the hires were part of a plan to grow the business and elevate appraisal industry standards.

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Blueberry Systems’ Tech Enhancements Reduce Loan Buyback Risk

Blueberry Systems, LLC, a provider of mortgage production solutions to the financial services industry, recently enhanced its proprietary Conductor technology, a component of the company's flagship loan production platform, RELAY. The firms says the update gives mortgage lenders greater control over their loan data, which lowers the risk of errors and costly loan repurchases from mortgage investors.

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Wingspan Upgrades Investor Portal to Provide Servicing Transparency

Texas-based special servicer Wingspan Portfolio Advisors recently upgraded its technology with the release of Investor Portal 2.0. The improved Web-based portal provides stakeholders with access to their serviced loans through customizable dashboards. Wingspan SVP E.J. Kite calls the new portal a ""controlled yet flexible tool with a results-oriented approach that brings an entirely new dimension to special servicing.""

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AMS Servicing Deploys Short Sale Platform from DepotPoint

AMS Servicing LLC, a national specialty servicer for residential and small balance commercial mortgages, recently selected the TrackPoint default servicing platform to facilitate short sale transactions on behalf of its clients. AMS Servicing uses TrackPoint Short Sale with its short sale underwriting process to create customized, end-to-end short sale processes that work with the systems of individual servicers.

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Hilco Real Estate Targets Distressed CRE with New Acquisitions Group

According to R. Aaronson, CEO of Hilco Real Estate LLC, the company will launch Hilco Real Estate Acquisitions Group to originate, underwrite, and acquire assets across a range of property classes and stages, including those in workout, foreclosure, and REO. Acquisition capital will come from various sources, including Hilco and investor partners selected for each transaction. The group's primary acquisition targets will be industrial and retail properties.

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Delinquencies Down in New York but Foreclosure Inventory Rising

The number of new filings for foreclosures in the state of New York fell in 2010, but the percentage of properties in the foreclosure process is growing, according to a new report from New York State Comptroller Thomas P. DiNapoli. He says the sharp drop in new filings can be attributed in part to a temporary suspension of foreclosure related activity, not an improvement in the market.

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NRT REOExperts Announces Executive Appointments

NRT REOExperts LLC, a full-service REO service provider and member of the NRT family of companies, announced the appointment of several new members to its executive team last week. Stephen Benetz was named president of the company. Benetz appointed Walter Mullen, Mary Gomez, and Ximena Wolf to leadership positions at NRT REOExperts, and promoted Kathy Jeffers Volk and Phil Collier to new positions from within the NRT REOExperts management team.

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BofA Partners with Detroit to Assist Homeowners, Rehab Vacant Homes

In a partnership with the city of Detroit, Bank of America will open two customer assistance centers in the area to provide homeowners at risk of default or foreclosure with counseling and on-site decision making for mortgage modification programs or other payment assistance. The bank also plans to donate and refurbish 10 vacant homes for the city's ""Project 14"" program, and will work with the city to identify up to 100 low-value and vacant properties for demolition.

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