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Servicer Employs Technology to Automate Loss Mit Evaluations

Bethesda, Maryland’s Overture Technologies, a provider of decisioning solutions for mortgage lending, and Residential Credit Solutions, Inc. (RCS), a Fort Worth, Texas-based mortgage servicing company, announced on Monday that RCS will implement Overture’s Mozart for Special Servicing to identify optimal workout options for delinquent borrowers.

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Officials Offer Clarification on Federal Mods

Representatives from the U.S. Treasury, Fannie Mae, and Freddie Mac took part in a conference call on Tuesday, hosted by the Mortgage Bankers Association and the HOPE NOW Alliance to answer a growing list of servicers’ questions (said to be six pages, single-spaced) regarding the administration’s Home Affordable Modification program.

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Mortgage Mod Legal Network Taps Former Fed Governor as Advisor

Mortgage Modification Legal Network (MMLN), also known as WeSaveHomes.com, has appointed former Federal Reserve Governor Dr. Wayne Angell to its board of advisors. MMLN, a national loan modification and loss mitigation servicing firm headquartered in Laguna Niguel, California, said the global recession has made it imperative for financial service companies to assemble great minds to provide solutions for homeowners, lenders, and the governments, together affecting positive momentum for the economy.

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Response Analytics Releases Making Home Affordable Software

Scottsdale, Arizona-based Response Analytics Inc. has released a new software module developed for mortgage servicers, investors, and mortgage insurers that the company says dramatically simplifies the administration of loan modifications under the federal government’s Making Home Affordable plan unveiled earlier this month.

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GSE Loan Mods Up 76 Percent in Q4

The Federal Housing Finance Agency (FHFA) submitted its fourth quarter report to Congress this week detailing actions the GSEs have taken to prevent unnecessary foreclosures. The report shows a 76 percent increase in loan modifications by Fannie Mae and Freddie Mac from the third to fourth quarters of 2008.

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LPS' RealEC Surpasses 42M Orders, Announces HVCC-Compliance

Santa Ana, California’s RealEC Technologies Inc., a provider of collaborative mortgage network solutions that is majority-owned by Lender Processing Services, today announced that it has surpassed a milestone of more than 42 million real estate orders processed through its network, since the company was founded in 1998.

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