DS News

DS News January 2021

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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Page 95 of 99

94 94 INVESTMENT GOVERNMENT PROPERTY PRESERVATION INDUSTRY UPDATES Journal ALTISOURCE POISED TO ASSIST SERVICERS AND BORROWERS POST- FORBEARANCE Altisource Portfolio Solutions S.A., an integrated service provider and marketplace for the real estate and mortgage industries, announced the launch of its Signature Seller Assisted Sale program. e solution is de- signed to help borrowers who are unable to meet retention requirements avoid foreclosure by assisting in the sale of their home. With nearly three million loans in forbearance, delinquencies are expected to rise dramatically in coming months. e program has the potential to benefit mortgage servicers by reducing the number of properties in foreclosure, thus lessening the burden on managing their delinquent portfolio. For the borrower, the Signature Seller Assisted Sale program offers a solution that may help avoid foreclosure and allow for a seamless and graceful transition. e program can be used as a short sale or equity sale depending on the value of the home and the unpaid balance of the loan. e Signature Seller Assisted Sale pro- gram can include one or more of Altisource's services, including its call center, valuation services, national brokerage and Hubzu online real estate marketing platform. is program may help servicers avoid or reduce lengthy foreclosure timelines, potential bankruptcies, and expensive holding costs and advances. ere is no fee for the servicer to participate in the program. "e Signature Seller Assisted Sale program is designed to utilize Altisource's in- tegrated services to assist borrowers in grace- fully selling their home when all retention possibilities are exhausted," said John Vella, Chief Revenue Officer at Altisource. "We feel our combination of services uniquely positions us to offer solutions that no other vendor can provide. In the end, this program can help borrowers, servicers and investors achieve the optimal outcome in these uncertain times." LERETA ACQUIRES FLOOD DETERMINATIONS BUSINESS LERETA, a leading provider of national real estate tax and flood services, has acquired the Flood Determinations Solution from Wolters Kluwer Governance, Risk, and Com- pliance for an undisclosed sum. In partnership with LERETA, Wolters Kluwer will continue to enable its lending customers to purchase flood determination services through its lending solutions. Alongside its property tax and flood data services, LERETA will now also be able to provide flood determination services as well as basic, life-of-loan and commercial determina- tions and portfolio reviews. "is acquisition will provide a seamless experience for customers," said LERETA COO Jim Micali. "LERETA and Wolters Kluwer find alignment in their commitment to providing efficient and compliant flood zone determinations and certificates. Our combined industry expertise and experience will continue to provide customers the support they need." LERETA has a 33-year history of delivering flood and tax services and has delivered more than 19 million flood determinations to date. "This acquisition will provide a seamless experience for customers" —Jim Micali, COO, LERETA

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