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Author Archives: Heather Cernoch

IndiSoft Delivers Default Servicing Tool to Counseling Agencies

IndiSoft announced Tuesday that its workflow technology now assists housing counseling agencies with internal operations and communications. Housing counselors provide consumers with advice on housing options as well as information regarding defaults, foreclosures, and credit issues. IndiSoft explained that its RxOffice Premium Counselor Edition provides case and document management features customized for counselors and allows them to more effectively communicate with both financially troubled consumers and servicers.

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Zillow Unveils Mortgage Marketplace App

Zillow, a Seattle-based mobile and online real estate information company, launched its Zillow Mortgage Marketplace iPhone app Tuesday for a mobile loan shopping experience. The app combines personalized loan quotes with calculators and tools to help borrowers ascertain home affordability, monthly payment amounts, and whether refinancing makes financial sense. Home shoppers can also use the app to receive instant, personalized loan quotes from lenders.

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Ocwen Launches Turnkey Operation for Distressed Mortgage Buyers

Specialty servicer Ocwen Financial Corporation recently launched a new product to help buyers of non-performing loan portfolios or residuals of private-label securities get more value from their loans. A turnkey product, PlatformPlus allows distressed asset investors to set up their own specialty servicing operations using Ocwen's expertise and management.

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Nevada Leads Nation in Bankruptcy Filings

Even with the highest foreclosure rate in the nation, Nevadans are not using bankruptcy to keep their homes, according to Columbia Law School professor Ronald Mann. Mann's analysis shows that Nevada's bankruptcy filing rate so far this year is 5,176 filings per million adults, more than twice the national rate of 2,562 per million. At the same time, he notes that Nevada's percentage of filings under Chapter 13 of the bankruptcy code, which often allows debtors to keep their property, trails the national average.

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Firms Partner to Provide Loans for Trustee Sale Buyers in Arizona

Sharp Equity, a trustee sale auction service in Arizona, and the Legacy Group, a mortgage lender, recently announced a partnership to offer bridge loans to finance foreclosure properties bought at trustee sales. The bridge loans are refinanced into lower interest-rate, permanent mortgages often within 30 days of the auction purchase. The companies expect their approach to open trustee sales to the greater public to buy foreclosed homes.

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Ohio Inspection and REO Company Renews Service Contracts with HUD

A2Z Field Services, an inspection and property preservation service provider headquartered in Ohio, announced the renewal of the company's three Field Services Management (FSM) contracts with HUD. The company provides property management services to HUD in 18 states and the District of Columbia and will continue to assist the federal agency with its bank-owned inventory over the next year.

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Robert J. Hopp & Associates Welcomes Managing Attorney to Utah

Robert J. Hopp & Associates has hired John Lish, Esq. as a managing attorney with the firm's Utah team. His responsibilities include overseeing day-to-day operations for the litigation and mortgage default areas. Lish is a 13-year veteran of real estate law, creditor's rights, and default servicing/collection in the Utah arena. He previously had his own law practice and also worked several years as president, in-house counsel, and partner for a title insurance company.

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HOPE LoanPort Adds Agencies in Alaska and Kansas

HOPE LoanPort (HLP), a Web-based tool that streamlines home retention applications on behalf of borrowers at risk of foreclosure, recently welcomed nonprofit counseling agencies in Alaska and Kansas to its system. Used by housing counselors, housing finance agencies, investors, and major mortgage servicers, HLP now assists struggling homeowners in 49 states and the District of Columbia.

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Credit Union Partners with Green River Capital for REO Management

Green River Capital recently partnered with Mountain America Credit Union to provide commercial and residential REO management services. The company's technology platform allows Mountain America to identify the status of its properties at any time and provides real-time reporting, valuation, offer acceptance, and expense tracking online.

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Lender Processing Services Launches Mortgage Intelligence Product

Lender Processing Services, Inc. (LPS) has launched a new reporting and analytics solution. The company says mortgage servicers can use the new LPS Business Intelligence (BI) product to measure and analyze performance indicators to help make more informed decisions about loans in their portfolios. With customizable views of loan data, users can identify and predict changes over time and quickly resolve issues that may arise.

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