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The Industry Pulse: Forbearance Tools & Expanded Services

From new appointments and research to new technology and rule changes,
get the latest buzz on the industry in this update.

California-based First American Mortgage Solutions, LLC, part of the First American family of companies and leading provider of lender and servicer solutions that cover the entire loan spectrum, announced the launch of a new monitoring solution, Mortgage Forbearance Indicator (MFI). The MFI is a module available through FraudGuard, First American Mortgage Solutions’ data-driven decision-support tool with over 20 unique modules and integrated solutions that helps lenders comply with regulations, improve the speed and efficiency of underwriting reviews, and increase loan quality while mitigating against potential risk.

Lenders incur costs and lose time to verify and re-verify whether a borrower is engaged in forbearance activity. MFI monitors a consumer’s credit from application to closing to identify mortgage forbearance and alerts the processor and underwriter when new activity is found. Through FraudGuard, the MFI is fully compatible with, and an embedded service within, all major Loan Origination Systems (LOS). This integration and automation streamline the process to quickly uncover undisclosed forbearance requests, shortening underwriting timelines and helping lenders avoid potential agency fees or unsaleable loans.

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Tim Gillis

Chicago-based AHP Servicing, a nationwide servicer of high-touch residential mortgages, is pleased to announce the appointment of Tim Gillis as the organization’s next president.

"We are thrilled to have Tim lead AHP Servicing's continued growth,” says Jorge Newbery, Founder and CEO of AHP Servicing. “Tim is a visionary who is decisive, hard-working and an out-of-the-box thinker. His focus on obtaining mutually-beneficial results will create positive outcomes for AHP, our team, our investors, and borrowers.

Gillis brings 25 years of lending and servicing experience to the country’s only crowd-funded residential loan servicer. Prior to initially joining AHP Servicing in June as the Senior Vice President of Business Development, Gillis held executive positions providing products and services to Hedge Fund and Capital Market clients.

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Altisource Portfolio Solutions S.A., an integrated service provider and marketplace for the real estate and mortgage industries, announced it has expanded its Texas-based operations center to better service financial institutions in the wake of an unprecedented surge of mortgage-related calls from homeowners. Current moratoriums and forbearance plans are benefitting borrowers facing economic uncertainty and unemployment but creating customer service challenges for banks and servicers.

Recognizing an immediate industry need for expanded capacity management, Altisource added new highly trained single point of contact (SPOC) representatives to its operations center in El Paso, Texas. The company now offers expanded expertise and strategic client-centric auxiliary business services support for clients who need it. Altisource’s SPOC call agents integrate seamlessly with clients’ own services. They then act as brand representatives as they handle inbound and outbound loss mitigation inquires, focusing on forbearance, repayment and loan modifications, routed through the Altisource facility.

“Using our vast experience, specialized knowledge and competitive pricing, we’ve been helping mortgage clients serve customers better since 2009,” said Altisource VP of Enterprise Sales and Business Development Robert W. McKinley. “Our short-term goal is to help them control the heavy call surge by acting as a ‘surge protector.’ The long-term objective is to continue working with them and other clients after the pandemic to help operate more efficiently. We want to build a lasting relationship and become a trusted source.”

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@thefivestar.com.
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