Altisource Portfolio Solutions S.A., a leading provider of real estate, mortgage and technology services, has expanded its servicer solutions businesses with its new Foreclosure Auction Services, according to a recent release from the company. With this new service, the company states that it will include support for the Federal Housing Administration’s Claims Without Conveyance of Title (CWCOT) program, providing mortgage servicers with additional, accelerated real estate disposition strategies.
“The mortgage servicing market is more demanding than ever as servicers grapple with compliance requirements, growing complexity and cost pressures,” said John A. Vella, Chief Revenue Officer of Altisource. “Our goal is to help servicers tackle these challenges – we do that by giving them a complete set of innovative solutions, backed by deep industry expertise and a steadfast focus on quality, controls and compliance.”
The release states that Altisource’s servicer solutions feature an end-to-end suite of offerings to support various aspects of a mortgage servicer’s business. They state that this ranges from property valuation to default technology, real estate brokerage and online auctions to asset management, and title and field services.
In addition, Altisource’s notes that their track record of delivering results for mortgage servicers includes provision of services to five of the top 10 financial institutions and several special servicers across the U.S., more than 2.7 million property inspections performed annually, more than 600,000 valuations provided annually, and more than 159,000 residential properties sold on Hubzu® with properties sold in all 50 states and Washington, D.C.
Adding to its suite of servicer solutions, Altisource has announced a comprehensive set of foreclosure auction services that leverage Altisource’s deep experience in real estate marketing and auctions. The first of these services is the pre-foreclosure marketing services which utilize Hubzu’s proven digital marketing platform and active investor base to provide significant exposure to foreclosure properties and auction events.
Another one of the services is onsite foreclosure auctioneering which uses Altisource’s nationwide network of auctioneers and proprietary technology to provide visibility, accuracy and compliance for successfully managing large-scale, on-site foreclosure auction events.
Finally, the services also include online second chance auctions which are xclusively for HUD properties as part of the FHA’s CWCOT program and utilize Hubzu’s digital auction platform which has marketed and sold over 159,000 properties online.
“With these new offerings, we’re providing servicers with alternatives to historical disposition approaches as they look to achieve excellence in managing their delinquent portfolios,” said Vella. “This enhances our end-to-end solution suite for our growing client base.”