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The Industry Pulse: Updates on Altisource, DCHFA, Guild Mortgage, and More …

From Rewards and recognition to new appointments and initiatives get your buzz on the industry's latest news in this weekly update.

Altisource Portfolio Solutions S.A. has announced the appointment of Patrick McClain as SVP, Hubzu Auction Services, reporting to Joseph A. Davila, President, Servicer Solutions. In this role, McClain, who joins from Auction.com, will be responsible for driving the growth of Hubzu’s residential online marketing and auction business. Leveraging Hubzu’s scale, rich data resources, and fully integrated end-to-end services, McClain will oversee product innovation for the Company’s Online Auction, Live Auction, Short-Sale, Claims Without Conveyance of Title (CWCOT) and National Brokerage Services businesses along with Hubzu’s client management program and business development strategy. “Patrick has deep and highly-relevant product expertise and a broad industry network,” said Mr. Davila. “Hubzu is one of the largest online real estate auction services platforms in the country. We welcome Patrick’s entrepreneurial approach, significant industry experience and demonstrated operational expertise as we look to substantially grow Hubzu and stay at the forefront of this market.”


The District of Columbia Housing Finance Agency (DCHFA) has appointed a new General Counsel, Michael Hentrel. In April, Hentrel’s tenure began at DCHFA where he is the agency’s lead attorney reporting to DCHFA’s Executive Director/CEO Todd A. Lee. “Michael’s appointment is a key addition to DCHFA’s senior management team. His extensive experience in the housing and finance industries will greatly contribute to DCHFA achieving its goals of providing innovative solutions in affordable housing in the District,” stated Lee. The General Counsel provides legal advice on operational, programmatic, and transactional actions of the agency through drafting opinions and providing legal interpretation and leading negotiations. Upon joining DCHFA Hentrel stated, “I have spent most of my professional career in the District and I am thrilled to bring my passion for housing to DCHFA and its mission-driven work.”


Premium Title, a national provider of title and escrow services based in Atlanta, Georgia, announced it has secured escrow licensing in Idaho, New Mexico, Oregon, and Washington. This additional licensing expands the business’ footprint and allows Premium Title to now provide clients with direct title/settlement services in 45 states plus Washington, D.C. “We are dedicated to delivering a scalable suite of title and escrow services that help our customers drive efficiency, responsiveness and process controls required in today’s competitive market,” said James Weld, President, Premium Title. “Securing our licenses in these additional states is a milestone for Premium Title. It enables us to provide greater access—on a national scale—to the services customers need to help expedite the closing process and accelerate business growth.” This announcement comes on the heels of the recent integration Premium Title announced with eClosing technology solutions provider, Pavaso, helping lenders across the country to streamline the mortgage closing process and improve the borrower experience.


Wolters Kluwer, a leading worldwide provider of comprehensive compliance, risk management, and audit solutions for the financial services industry, announced that Allegiance Bank, headquartered in Houston, Texas, has selected the company’s CRA Wiz and Fair Lending Wiz solutions to help the bank manage fair lending compliance across its entire organization. Allegiance Bank operates 16 full-service banking locations and one loan production office and has serviced the Houston metropolitan area since 2007. The bank has and has an asset size of $2.86 billion. Fair Lending Wiz is a complete and automated fair lending management solution allowing Allegiance Bank to identify potential risk—such as underwriting and pricing risks—and promptly take corrective actions where needed. CRA Wiz helps the bank apply a range of fully customizable automation technologies to its CRA reporting process, including guaranteed accurate geocoding, to speed up data preparation for CRA reviews and, ultimately, to ensure banks meet the credit, service, and community development needs of the communities they serve.


The San Diego headquartered independent mortgage lender, Guild Mortgage, earned a Servicer Total Achievement and Rewards (STAR) Performer recognition from Fannie Mae for 2017. The STAR Program, which was initiated by Fannie Mae in 2011, is a performance management and recognition program designed to define industry standards and leading practices and seeks to provide a consistent methodology for measuring servicer performance, as well as identifying and recognizing Fannie Mae’s highest-performing servicers. Guild Mortgage received the recognition for General Servicing, and marks the first time that the mortgage company received a STAR award. “Guild continues to grow its servicing business at record rates while maintaining our personal touch and commitment to customer service,” said Mary Ann McGarry, President, and CEO of Guild Mortgage. “Everyone at Guild can be proud to be honored among Fannie Mae’s leading servicers.”

About Author: Radhika Ojha

Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.

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