From rewards and recognition to new appointments and initiatives, get the buzz on the industry's latest news in this weekly update.
RoundPoint Mortgage Servicing Corporation, a fully-licensed agency and non-agency subservicer of residential mortgages, has announced that it is relocating its headquarters to York County, South Carolina. The company’s $34 million investment is projected to create 1,100 new jobs.
Located at 2280 Deerfield Drive in Fort Mill, South Carolina, RoundPoint’s new headquarters is expected to be operational by the third quarter of 2019, with hirings beginning around the same period. The Coordinating Council for Economic Development approved job development credits for this project, as well as a $500,000 Set Aside grant to York County to assist with the costs of site preparation and building construction.
“When a company chooses to invest in our state and create jobs for our people, it shows that Team South Carolina’s efforts to create opportunities for our people are paying off,” South Carolina Gov. Henry McMaster said. “I congratulate RoundPoint Mortgage Servicing Corporation on its decision to build its corporate headquarters here and I’m honored to welcome them to the South Carolina business community.”
Property information and analytics provider, CoreLogic, announced the availability of two products that comprehensively assess non-weather-related water and fire risk. WaterRisk and FireRisk, both products of Location, Inc., are the first to measure the frequency of non-weather-related water and fire events and represent the only non-weather-related risk assessment solutions available on the market today.
Property insurers have historically been unable to accurately analyze the likelihood of non-weather-related hazards, such as plumbing and appliance leaks or the likelihood of house fires, due to a lack of consistent and complete data that capture unaccounted for water and fire risk. "However, non-weather-related water damage accounts for approximately 20 percent of all homeowner insurance losses nationwide, and 84 percent of home structure fires are either intentionally ignited, smoking accidents or a result of misused or failed cooking equipment, unattended candles or failures of heating and electrical systems," CoreLogic said.
Virginia-based servicer, LoanCare, recently announced that its primary servicer and specialty subservicer ratings were upgraded by Fitch Ratings. The servicer's primary servicer rating for its prime product was upgraded to ‘RPS2’ from ‘RPS2-’ while its specialty subservicer rating was upgraded to RPS2’ from ‘RPS2-. Both the products have received a stable outlook from Fitch Ratings.
Fitch cites LoanCare’s “enhanced risk management controls, continued investments in systems, staffing, recruitment, and technology, and its well managed growth” for the upgraded ratings. The ratings also reflect the financial strength of LoanCare’s parent company, Fidelity National Financial, Inc., which was rated ‘BBB+’ Outlook Stable by Fitch on November 20, 2017.
“On behalf of LoanCare, we are proud that Fitch has upgraded our ratings,” said Dave Worrall, President of LoanCare. “Our team at LoanCare is committed to continually strengthening our systems, technology, and staff, in support of our philosophy of Service that Exceeds Expectations. Our culture ensures that we are constantly building the best technology and working on new ways to provide the best service and compliance for our customers.”
Affinity Worldwide, a family of companies that works to empower and support residential real estate investors, announced it has made an equity investment in OwnAmerica. The purchase deepens the partnership between OwnAmerica and two of Affinity Worldwide’s real estate-related entities, Think Realty and National Real Estate Insurance Group (NREIG).
OwnAmerica is a financial services platform that operates a national marketplace for single-family rental (SFR) portfolios. Affinity Worldwide’s investment connects Think Realty members with OwnAmerica’s online tools, which help them find and secure properties and scale portfolios according to their personal investing goals. NREIG is now the preferred insurance program of OwnAmerica.
“This partnership is in line with Affinity Worldwide’s vision to provide real estate investors with valuable education, services, and tools for success,” said Eddie Wilson, CEO of Affinity Worldwide and Think Realty. “OwnAmerica has one of the largest databases of investment properties in the nation and tools to help investors find the right properties for them. This partnership will make investing easier.”