DSNews The homepage of the servicing industry
The Southlake, Texas-based ""Orion Financial Group, Inc."":http://www.orionfgi.com/, announced Monday a nearly 30 percent year-over-year increase in the number of transactions performed for lenders, servicers, and investors.
[IMAGE]The 29.4 percent increase is attributed by the company to its ability to quickly and accurately provide document services. There is also a greater demand for such services by mortgage servicers, credit unions, and lenders as delinquency and foreclosure levels remain historically high.
[COLUMN_BREAK]""The business of properly creating, recording and tracking mortgage documents has become increasingly important as the mortgage market continues to experience delinquencies and foreclosures well above historical ranges"", said Mike Wileman, president and CEO of Orion.
Wileman explained that with delinquency rates and foreclosures at high levels, there are more chances for mistakes to happen in documentation. These mistakes can stall the foreclosure process and delay or prohibit lenders from selling off loans to a third party.
""The industry now realizes that accurate documentation needs to be a priority. Too often in the past, it was an afterthought. We are now repairing those items that were neglected previously, and going forward, we are proactively addressing potential issues with documents, as opposed to reacting after problems arise,"" he said.
Orion Financial Group specializes in providing mortgage assignment, lien release and document retrieval services to mortgage servicing companies, credit unions, and lenders who manage their own portfolios.
