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The Industry Pulse: New Partnerships and Market Updates

Bonial and Associates has announced a partnership with MJ Connections, headed by Majenica Springer.

Springer has been working in the mortgage banking industry for over 10 years. She began her career practicing law at a mortgage banking law firm in Indiana. She handled foreclosures, mediation/settlement conferences, title issues, code violations and curative issues for about 3 years prior to transitioning to handling client relations for law firms. She founded MJ Connections in 2014 and represents several firms in the mortgage.

“Bonial & Associates, P.C.  is looking forward to working with you, Majenica," said Matt Slonaker, EVP, Head of Business Development at  Bonial and Associates Your expertise along with our team will help clients with their bankruptcy, foreclosure and litigation management needs in Texas, Nebraska, Oklahoma, Missouri, Kansas & Georgia. Welcome to the team!”

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In a new Coffee Talk with NTC's Industry Experts, Amie McCarthy, VP of Business Development, Capital Markets at Nationwide Title Clearing, Inc. discussed the current state of the market.

McCarthy covered interest rates and market volatility, as well as benchmark rate cuts and the CARES Act's impact on the mortgage industry.

"The United States mortgage finance system needs assistance, which is not addressed in the Coronavirus Aide, Relief, and Economic Security Act (CARES)," McCarthy stated. "Lawmakers are allowing homeowners to delay their payments. Still, they have no assistance for the mortgage servicers who must advance the principal and interest due to bondholders from their funds when payments are not received from consumers. The bill provided for $454 billion for the Treasury’s emergency lending program for large corporations, however, mortgage lending was not included, even though the industry lobbied for assistance."

McCarthy's full remarks can be found here.

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techIndiSoft has launched The Homeowner Connect (THOC) to help servicers communicate effectively with borrowers who need loss mitigation help during the COVID-19 crisis. The platform brings HUD certified non-profit housing counselors and consumers together on one platform for servicers, and it can be implemented in a matter of hours.

IndiSoft upgraded the platform previously branded as Hope LoanPort (HLP), which terminated operations this past January. During its 10 years of operation, HLP offered several programs driven by IndiSoft’s technology including Make Home Affordable (MMA), Hardest Hit Funds (HHF), The Home Affordable Modification Program (HAMP), The Emergency Home Loan Program (EHLP) and the National Mortgage Settlement (NMS).

“Right now, COVID-19 forbearances are on a ‘scout’s honor’ basis,” said Sanjeev Dahiwadkar, Founder of IndiSoft. “This means borrowers are calling their servicers saying they need assistance due to the loss of income or job caused by COVID-19. In 90 days, everyone will be scrambling to comply with the requirements for receiving mortgage assistance. The Homeowner Connect is an easy-to-use platform that allows homeowners and counselors to work from home, adhering to the stay-at-home orders.”

 

About Author: Seth Welborn

Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.
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