mortgage services

LenderLive Settlement Services Acquires MoKan Title Services

rich — Tue, 21 Feb 2012 19:13:37 +0000

DENVER–(BUSINESS WIRE)–

LenderLive Settlement Services, a wholly owned subsidiary of LenderLive Network Inc., a domestic-based, end-to-end mortgage services provider, announced it has acquired MoKan Title Services LLC. MoKan, with offices in Missouri and Kansas, offers basic and specialized title insurance coverage and services for residential and commercial lenders on new loans, refinances of existing loans, foreclosure-related actions and closings for REO transactions. MoKan was previously affiliated with Martin, Leigh, Laws & Fritzlen, P.C., a law firm based in Kansas City, Mo., and they will continue working together as strategic partners.

LenderLive Settlement Services has provided title and settlement products and services since 2006 in all 50 states, and it is now directly licensed in 36 states. The company has extensive, proven experience in assignments, substitution of trustee and loan modifications. The LenderLive division began offering title-related services for loan modifications in 2009, and with the acquisition of MoKan, has further expanded its capabilities to be an end-to-end title services provider in the default space. The acquisition is also a strong strategic fit with LenderLive’s recent launch of its specialty servicing business in June 2011.

LenderLive plans to retain all of the current staff and continue to operate from the current MoKan locations. Amy Wilson has been named vice president of default operations for LenderLive Settlement Services. In addition, Berry F. Laws III will remain as Of Counsel for the law firm and join LenderLive Settlement Services in the capacity of director of strategic initiatives.

“We understand that the needs of servicers are changing drastically as the market resets and increasing regulatory compliance is required,” said Rick Seehausen, president and CEO of LenderLive. “The addition of MoKan gives us a solid opportunity to grow our offerings, add more default-related experience to our team and become the go-to company for all title and settlement services in this and every market cycle.”

About LenderLive Network Inc.

LenderLive is a domestic-based mortgage services provider. Through its five divisions – origination services, conduit services, document services, settlement services and loan servicing – LenderLive offers the people, technology and processes to support its clients’ origination, servicing and loan purchase operations. From large-scale, centralized operations centers, the company provides services to financial institutions of all sizes on a national basis. With tens of millions of transactions processed through its expansive service offering, LenderLive offers the vision, experience and innovation on which financial institutions can rely. For more information about the company and its services, contact Rick Seehausen at 303.226.8001 or visit www.lenderlive.com.

LenderLive Settlement Services Acquires MoKan Title Services

rich — Tue, 21 Feb 2012 19:13:37 +0000

DENVER–(BUSINESS WIRE)–

About LenderLive Network Inc.

LenderLive Settlement Services Acquires MoKan Title Services

rich — Tue, 21 Feb 2012 19:13:36 +0000

DENVER–(BUSINESS WIRE)–

About LenderLive Network Inc.

MortgagesCanada.ca Announces Partnership AAA Debt Managers

rich — Tue, 21 Feb 2012 19:13:36 +0000

TORONTO–(BUSINESS WIRE)–

MortgagesCanada.ca (“MC” or the “Company”), a leading Canadian online mortgage broker and financial services destination, announced today a partnership with AAA Debt Managers. The partnership brings together Canada’s leading mortgage and financial services website, MortgagesCanada.ca with Canada’s largest independent group of debt counseling and consolidation experts.

AAA Debt Managers has been helping thousands of Canadians successfully manage debt and reestablish credit for over 15 years. Darren Dickey, General Manager at AAA commented, “MortgagesCanada.ca is an ideal partner for us to help our clients find the best mortgage products once their credit has been reestablished, there are tremendous synergies between our firms.”

Cris Ravazzano, VP Communications of MortgagesCanada.ca, also noted, “Due to the large number of strong debt consolidation inquiries and leads we receive as Canada’s premiere financial products and services web destination, we chose to partner with the industry’s leading debt solutions provider to best serve those clients.”

About MortgagesCanada.ca

MortgagesCanada.ca is a nation-wide licensed mortgage broker and financial services provider. Both online and from offices located in Toronto and Montreal, MC is ready to assist clients with all their financial services needs. From buying a first home, to lines of credit for establishing future financial stability, MortgagesCanada.ca is ready to help customers save money and time. MC provides advice, answers questions, and assists customers with every step of the mortgage process. MC also offers various online tools, such as mortgage calculators, through its web property Mortgage Calculator Canada. The company has established partnerships with some of Canada’s leading real estate and financial institutions. The company will continue to grow its product offerings as it develops into Canada’s leading one-stop online destination for all mortgage and financial services needs.

Please visit the company’s website at www.mortgagescanada.ca

MortgagesCanada.ca Announces Partnership AAA Debt Managers

rich — Tue, 21 Feb 2012 19:13:35 +0000

TORONTO–(BUSINESS WIRE)–

About MortgagesCanada.ca

Please visit the company’s website at www.mortgagescanada.ca

Commercial Mortgage Firm Searches for New Guerilla Marketing Tactics to Market Commercial Loan Services

rich — Tue, 21 Feb 2012 07:00:14 +0000

Clopton Capital, a commercial mortgage firm based in Chicago, IL is exploring and brainstorming new ideas to market their various commercial loan services.

Chicago, IL (PRWEB) February 17, 2012

Clopton Capital, a commercial mortgage firm based in Chicago, IL is exploring and brainstorming new ideas to market their various commercial loan services.

Freemium web-based services are on idea the firm has explored to market their commercial mortgages and other commercial loan products. The firm feels this idea has the greatest potential for growth but also the most significant degree of barrier to entry. Although they feel confident they will one day provide numerous free web services they feel it will be years before they pursue this. “There are a lot of excellent ways we could market ourself but the weakness with all of these ideas is that they take a long time and lot of work to pay off. Regardless we will have to pursue at least a few of them eventually,” said Jake Clopton, the founder of Clopton Capital.

Another idea the firm has explored is starting their own trade publication about the commercial mortgage industry. The firm believes there aren’t enough informative and intelligent publications revolving around the commercial loan industry and that launching an online one would be advantageous as a form of inbound marketing.

An idea which the firm is most likely to utilize is the use of free merchandise such as pens, calendars, mouse pads and similar items to brand with their logo as a means to promote commercial loans and commercial mortgages. This is an idea the firm feels is most likely to succeed as they feel it has worked very well for so many other firms.

Any businesses or commercial real estate owners who are seeking business loans are urged to contact Clopton Capital at 866.647.1650 or via their website CloptonCapital.com.

For more information about Clopton Capital’s business loan services visit their website dedicated to them at CloptonCapital.com. To join their financial link exchange visit CloptonCapital.com/link.

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/2/prweb9202459.htm

Federal program will review 2009, 2010 foreclosures

rich — Tue, 21 Feb 2012 07:00:13 +0000

The federal Office of the Comptroller of the Currency is conducting independent reviews of mortgages processed by 14 of the largest mortgage servicers between Jan. 1, 2009, and Dec. 31, 2010. This program, called the “Independent Foreclosure Review,” is available to any homeowner whose mortgage was serviced by these companies and whose primary residence was active in the foreclosure process at any time between those dates.

The 14 services involved in the program are: Bank of America, Beneficial, Chase, Citibank CitiFinacial, CitiMortgage, Countrywide, EMC, Everbank/EverHome Mortgage Co. Financial Freedom, GMAC Mortgage, AFC, HSBC, IndyMac Morgage Services, MetLife Bank, National City Mortgage, PNC Mortgage, Sovereign Bank, SunTrust Mortgage, U.S. Bank, Wachovia Mortgage, Washington Mutual, Wells Fargo Bank and Wiltshire Credit Corp.

The independent review will look for poor servicing practices that caused financial injury to the homeowner. Some examples of poor servicing practices include misstatements of the mortgage balance; foreclosure on homeowners who were doing everything the modification agreement required; the foreclosure happened when the homeowner was protected by bankruptcy; fees charged or mortgage payments inaccurately calculated, processed or applied, or foreclosure action on a mortgage that was obtained before active military service began and while on active duty or within nine months after the active duty ended and the servicemember did not waive his or her rights under the Servicemembers Civil Relief Act. Another example would be that the foreclosure occurred even though the homeowner requested assistance or modification, submitted complete documents on time and was waiting for a decision when the foreclosure sale occurred.

According to the website of the Office of the Comptroller of the Currency, homeowners who experienced forclosure actions in 2009 or 2010 and who were being serviced by one of the 14 companies should request a review if they believe they have been financially injured. The original deadline for this review request was April 30, but it has now been extended to July 31.

(Page 2 of 2)

Middlesex County Clerk Elaine M. Flynn encouraged homeowners who qualify to take advantage of this review program. She said the review will help to determine who suffered undue financial injury because of errors during the foreclosure process.

If the review finds that financial injury occurred to the homeowner as a result of errors, misrepresentations or other deficiencies in the servicer’s foreclosure process, the homeowner may be eligible for compensation. Where a borrower suffered financial injury as a result of such practices, the consent orders require remediation to be provided.

Nationally, more than 4 million letters were mailed to potentially eligible borrowers with request-for-review forms and instructions on how to complete and return them. People who qualify for an independent review who did not receive a form in the mail can request a form by calling 888-952-9105, Monday through Friday from 8 a.m. to 10 p.m. and Saturday from 8 a.m. to 5 p.m.

“If you have any doubt about your eligibility, please take a few moments to find out by calling the Independent Foreclosure Review program,” said Union County Freeholder Alexander Mirabella. “If you qualify for a review, the program will determine an appropriate remedy for financial harm you may have unfairly suffered.”

For all Union County homeowners and tenants, the Union County Foreclosure Task Force has free, reliable information and guidance on foreclosure issues. Visit the task force online at www.ucnj.org or call the toll-free hot line at The Home Ownership Preservation Foundation, a Task Force partner, at 888-995-HOPE (4673).

Commercial Mortgage Firm Searches for New Guerilla Marketing Tactics to Market Commercial Loan Services

rich — Sat, 18 Feb 2012 05:46:56 +0000

RT @michaelluo: RT @JLin7: 9 TOs wont get it done…gotta learn from my mistakes and move on to the next one. See you guys sunday!

Norcom Selects Blueberry Systems Platform to Manage Mortgage Loan Production Pipeline

rich — Wed, 15 Feb 2012 14:00:00 +0000

GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–

Blueberry Systems, LLC, a provider of advanced technology solutions to the mortgage and financial services industries, announced that Norcom Mortgage and Insurance, a Connecticut-based, privately-owned lender offering mortgages and insurance products in 30 states, has selected Relay™, Blueberry Systems’ enterprise loan origination system (LOS), as a platform to streamline its residential mortgage loan production operations.

Through the implementation of Relay, Norcom will replace its legacy LOS and a host of peripheral technologies with the industry’s only true loan production solution built with a universal data model. Paired with Blueberry Systems’ data audit framework and Patent Pending integration technology, Blueberry Systems gives Norcom the leverage needed to restructure and simplify its loan production processes. In addition to the LOS, Norcom’s plans include the implementation of Blueberry Systems’ fully integrated imaging platform.

“As our business has evolved, we have expanded to offer top tier services to a growing customer base, including different types of loan processing, updated transactional modeling and pricing,” said Phil Defronzo, CEO of Norcom Mortgage. “As a result, our corporate growth was outpacing our LOS’ abilities to support our business, which led us to Blueberry Systems. The scalability and flexibility of their technology will enable us to restructure and simplify our loan production processes, resulting in meaningful operational efficiencies for our staff and for our customers.”

“For more than two decades, Norcom has provided premium mortgage products to its customers accompanied by extraordinary levels of personal service,” said Wil Armstrong, founder and CEO of Blueberry Systems. “We are excited that our technology and expertise will play a key role in supporting their business as they continue to thrive in the marketplace.”

About Norcom Mortgage & Insurance

Norcom Mortgage was founded in 1990 and grew steadily over the next two decades by establishing themselves as a sought-after residential lender eventually expanding and creating a wholesale lending division. By 1993, Norcom Insurance was created and offers a full suite of financial services to our clients that include residential mortgages, personal insurance, business insurance and aviation insurance. Norcom is comprised of dedicated professionals who are focused on satisfying customer’s needs now and in the future. The scope of Norcom’s products allows customers to find the perfect financial solutions in one place. For more information, please visit www.Norcom-USA.com.

About Blueberry Systems

Based in Greenwood Village, Colorado, Blueberry Systems, LLC, was founded in 2005 to provide advanced software solutions, services and consulting to the financial services industry. Relay™, the company’s flagship technology, is a highly flexible, fully customizable loan production platform that enables lenders to seamlessly and easily integrate disparate technology solutions. For more information on Blueberry Systems, please visit www.BlueberrySystems.com or call 888.506.2259.

TransUnion: National Mortgage Loan Delinquencies Increase for Second Time Since 2009

rich — Tue, 14 Feb 2012 17:32:35 +0000

CHICAGO, IL–(Marketwire -02/14/12)- The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) increased for only the second time since the end of 2009, edging upward to 6.01% at the end of the fourth quarter in 2011. This information is reported by TransUnion and is part of its ongoing series of quarterly analyses of credit-active U.S. consumers and how they are managing credit related to mortgages, credit cards and auto loans.

Between the third and fourth quarters of 2011, all but 13 states experienced increases in their mortgage delinquency rates. On a more granular level, 64% of metropolitan areas saw increases in their mortgage delinquency rates in Q4 2011. This is the same percentage as found in Q3 2011, but up from Q2 2011 when only 21% of MSAs experienced an increase.

“To see that, quarter over quarter, fewer homeowners were able to make their mortgage payments is not welcome news,” said Tim Martin, group vice president of U.S. Housing in TransUnion’s financial services business unit. “However, it was not unexpected. First, there tends to be a natural seasonality, evident well before the recession, of higher delinquencies in the fourth quarter; perhaps explained by borrowers balancing holiday spending vs. debt payments. Secondly, on the economic front, house prices continued to deteriorate in the fourth quarter and unemployment remained stubbornly high. This combination leads to more negative equity in homes and reduced real personal income that can affect borrowers’ ability and willingness to pay their mortgages.

“The more encouraging news is that, when looking year over year, more homeowners are making their mortgage payments and the delinquency rate dropped over 6% since Q4 2010. While it is certainly good to see the rate dropping, at this pace it will take a very long time for mortgage delinquencies to get back to normal.”

Many see the economic environment beginning to brighten, although modestly. Therefore, TransUnion’s forecast predicts mortgage borrower delinquency rates to drift downward marginally in 2012, but in the meantime we may still see a quarter or two of slightly elevated nonpayment rates as some consumers are not able to, or decide not to, repay their mortgage debt obligations in light of the uncertain economic outlook.

TransUnion’s forecast is based on various economic assumptions, such as gross state product, consumer sentiment, unemployment rates, real personal income, and real estate values. The forecast would change if there are unanticipated shocks to the economy affecting recovery in the housing market or if home prices fall more than expected.

Q4 2011 Mortgage Statistics — Delinquency Rates


Quarter over Quarter             Q3 2011         Q4 2011       Pct. Change----------------------------------------------------------------------------USA                                    5.88%           6.01%           2.21%----------------------------------------------------------------------------

Year over year                   Q4 2010         Q4 2011      Pct. Change----------------------------------------------------------------------------USA                                    6.41%           6.01%         (6.24%)----------------------------------------------------------------------------

Highest Mortgage Delinquency States                                  Q4 2011----------------------------------------------------------------------------Florida                                                               14.27%----------------------------------------------------------------------------Nevada                                                                12.08%----------------------------------------------------------------------------New Jersey                                                             8.32%----------------------------------------------------------------------------Arizona                                                                7.50%----------------------------------------------------------------------------

Lowest Mortgage Delinquency States                                   Q4 2011----------------------------------------------------------------------------North Dakota                                                           1.50%----------------------------------------------------------------------------South Dakota                                                           2.45%----------------------------------------------------------------------------Nebraska                                                               2.57%----------------------------------------------------------------------------Alaska                                                                 2.77%----------------------------------------------------------------------------

Top 3 Year-over-YearIncreases                        Q4 2010         Q4 2011       Pct. Change----------------------------------------------------------------------------New Jersey                             7.43%           8.32%          11.98%----------------------------------------------------------------------------Vermont                                3.06%           3.40%          11.11%----------------------------------------------------------------------------South Dakota                           2.22%           2.45%          10.36%----------------------------------------------------------------------------

Top 3 Year-over-YearDeclines                         Q4 2010         Q4 2011       Pct. Change----------------------------------------------------------------------------Arizona                                9.70%           7.50%        (22.68%)----------------------------------------------------------------------------California                             9.14%           7.14%        (21.88%)----------------------------------------------------------------------------Wyoming                                3.42%           2.79%        (18.42%)----------------------------------------------------------------------------

Q4 2011 Mortgage Statistics — Mortgage Debt Per Borrower


Quarter over Quarter             Q3 2011         Q4 2011       Pct. Change----------------------------------------------------------------------------USA                                 $190,382        $188,194         (1.15%)----------------------------------------------------------------------------

Year over Year                   Q4 2010         Q4 2011       Pct. Change----------------------------------------------------------------------------USA                                 $189,046        $188,194         (0.45%)----------------------------------------------------------------------------

Highest Mortgage Debt States                             Q4 2011----------------------------------------------------------------------------District of Columbia                                                $375,563----------------------------------------------------------------------------California                                                          $332,021----------------------------------------------------------------------------Hawaii                                                              $311,099----------------------------------------------------------------------------Maryland                                                            $249,148----------------------------------------------------------------------------

Lowest Mortgage Debt States                              Q4 2011----------------------------------------------------------------------------West Virginia                                                      $100,982----------------------------------------------------------------------------Mississippi                                                        $107,755----------------------------------------------------------------------------Oklahoma                                                           $111,869----------------------------------------------------------------------------Arkansas                                                           $114,345----------------------------------------------------------------------------

Top 3 Year-over-YearIncreases                        Q4 2010         Q4 2011       Pct. Change----------------------------------------------------------------------------South Dakota                       $130,309        $135,999            4.37%----------------------------------------------------------------------------North Dakota                       $114,557        $118,147            3.13%----------------------------------------------------------------------------Iowa                               $120,371        $123,488            2.59%----------------------------------------------------------------------------

Top 3 Year-over-YearDeclines                         Q4 2010         Q4 2011       Pct. Change----------------------------------------------------------------------------Nevada                             $228,990        $219,095          (4.32%)----------------------------------------------------------------------------Arizona                            $202,976        $197,319          (2.79%)----------------------------------------------------------------------------California                         $339,088        $332,021          (2.08%)----------------------------------------------------------------------------

Supporting Resources/Links
TransUnion Trend Data Interactive U.S. Map
TransUnion 2Q11 Mortgage Statistics
TransUnion Payment Hierarchy Study
TransUnion Deleveraging Analysis
TransUnion on Twitter

TransUnion’s Trend Data database
TransUnion’s Trend Data is a one-of-a-kind database consisting of 27 million anonymous consumer records randomly sampled every quarter from TransUnion’s national consumer credit database. Each record contains more than 200 credit variables that illustrate consumer credit usage and performance. Since 1992, TransUnion has been aggregating this information at the county, Metropolitan Statistical Area (MSA), state and national levels. For the purpose of this analysis, the term “credit card” refers to those issued by banks.

About TransUnion
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data, and integrating advanced analytics and enhanced decision-making capabilities. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion reaches businesses and consumers in 23 countries around the world. www.transunion.com/business

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