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can be used across multiple devices and systems. Tampa-based MCS broadened its mobile technology by offering MCS Mobility, a proprietary mobile photo management tool that is integrated solely with MCS360, a webbased technology platform used by MCS and its clients and vendors to manage inspections, property preservations, and REO services. MCS Mobility enables vendors to upload photos to the cloud and to MCS360 directly from their mobile device. It is currently available to select MCS vendors and will soon be available to MCS' entire vendor network. MCS also announced Mobile Business Concepts (MBC), a Georgia-based company that creates software and mobile business applications, was selected as a preferred MCS vendor. MBC integrated its project management application, REO Photo, with MCS360. REO Photo enables jobs to be assigned to contractors, then tracked as tasks are fulfilled and documented with the inclusion of photos. Through the app, users can take timestamped photos, complete forms, label individual photos, provide detailed notes within photos, map the location of their next job, and conduct other tasks. Once the work order is completed, users can sync their mobile device and transmit completed work order information. "We understand that information can be transmitted more accurately and timely to our clients and their investors with the use of mobile devices. By leveraging enhancements in mobile technology, it allows us to receive real-time information, which ultimately helps us protect and preserve properties and communities across the nation," said Caroline Reaves, CEO of MCS. "MCS is really one of the benchmark companies in the property preservation industry, so to have it understand and embrace this technology is very gratifying and really validates what we have built," said Jason Harvey, CEO of MBC. Sale of ResCap's Servicing Platform to Ocwen Completed Residential Capital, LLC (ResCap), announced in late February that it completed the sale of its servicing platform assets to Ocwen Loan Servicing, the West Palm Beach, Florida-based servicing arm of Ocwen Financial Corporation. Ocwen won an auction for ResCap's mortgage servicing and origination assets in a joint bid with Walter Investment Manage- 88 ment Corp. last October following ResCap's bankruptcy last May. The U.S. Bankruptcy Court in Manhattan's Southern District approved the sale in November. The sale of ResCap's originations and capital markets platform to Walter was recently completed, as was the sale of a whole loan portfolio to Berkshire Hathaway. Together, the three transactions generated more than $4 billion in proceeds for the benefit of ResCap's creditors and preserved more than 3,800 jobs, according to a release from ResCap. "Today marks an important step in what has been a successful sale process for ResCap," said ResCap CEO Thomas Marano. "Since the court's approval of the deal, our focus has been to ensure a smooth transition for homeowners and preserve value for our creditors." He continued: "This complex transaction was settled in three components with three distinct purchasers, in cooperation with eight government agencies or regulatory authorities—all while keeping the business operating as a going concern. This successful outcome is a direct result of the hard work our employees, leadership, and advisors have dedicated over the last year." Wingspan to Buy Servicing Operation from JPMorgan Wingspan Portfolio Advisors, a diversified component and special mortgage servicer based in Dallas, has entered into an agreement to acquire JPMorgan Chase's mortgage servicing operation in Melbourne, Florida. "This is big news for us and we see it as indicative of where our industry is headed," said Steven Horne, president and CEO of Wingspan. "We are now fully equipped to meet the needs of clients as they downsize the scale of their default servicing operations." Jason Spooner, EVP of servicing operations for Wingspan, will be in charge of the site, which is based on Florida's east coast. As part of the agreement, Wingspan will offer positions to more than 400 Chase employees and has acquired the lease of the Melbourne office building. The acquisition brings Wingspan's employee count to almost 2,000 in four locations in Texas and Florida. "These associates in Florida are recognized for their deep experience in servicing," Spooner said. "The addition of this team and its capabilities provides Wingspan a true strategic advantage in the marketplace." Georgia rank: 31 90+ Day Delinquency Rate Foreclosure Rate January 2013 4.05% Unemployment Rate 2.03% 8.7% year ago 4.70% 2.73% 9.3% year-over-year change -13.9% -25.5% -6.5% Top County Heard CounTy 90+ Day Delinquency Rate Foreclosure Rate January 2013 4.44% 4.42% year ago 4.65% 4.28% year-over-year change -4.4% 3.4% Top Core-Based Statistical area THomaSTon, Ga 90+ Day Delinquency Rate Foreclosure Rate January 2013 5.36% 3.47% year ago 7.14% 3.94% year-over-year change -25.0% -12.0% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Equity Loans Gets Fannie's Nod for Whole Loan Execution Equity Loans, a residential mortgage industry leader based in Atlanta, announced in late February that after a series of tests regarding its staffing, processes, experience, and organization, it has received Fannie Mae's approval as a seller and servicer of oneto-four-family first-lien mortgages for whole loan execution. The approval adds to Equity Loans' extensive list of industry certifications and memberships, including Better Business Bureau Accreditation, Community Mortgage Lenders of America, Lenders One, Mortgage Bankers Association, and the National Reverse Mortgage Lenders Association. "Equity Loans has one of the most diverse portfolios of loan products in the residential mortgage industry, and the ability to sell whole loans to Fannie Mae gives us a greater opportunity to help even more borrowers achieve their dreams of homeownership," said Equity Loans CEO Kunjan Patel. "We're

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