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ยป IN THE NEWS Pierce and Associates Opens Texas Office Pierce and Associates, P.C., expanded its footprint into the Lone Star state with the opening of a satellite office. The new office, which is located in the Dallas-Ft. Worth metroplex, officially opened its doors on June 10. The firm, headquartered in Chicago, opened its first office on April 1, 1975, and now has more than 600 employees in three office locations. "Pierce and Associates is now completing another major milestone on our strategic roadmap with the opening of our portfolio management operation based in Dallas, Texas," said Scott Brinkley, CEO of the firm. "This new team will be comprised of experienced foreclosure technicians and will provide a single point of contact for our clients as they interact with our law firm. They will also be responsible for providing granular oversight and management of our client's default portfolios to ensure compliance with servicer, investor, and regulatory requirements." "The mortgage banking default servicing industry continues to change at a rapid pace," added Denis Pierce, founder and senior managing attorney at Pierce and Associates. "Responding to the new regulatory environment and the general need for enhanced scrutiny over the default process has been a top priority for our firm." Churchill Mortgage Approved for FirstTime Homebuyer Program Churchill Mortgage received approval to take part in a program that offers assistance to first-time homebuyers in Texas. The Texas Department of Housing and Community Affairs (TDHCA) approved Churchill to take part in My First Home Texas. Through the program, the lender can offer down payment and closing cost assistance to qualified first-time homebuyers, as well as lower interest rates. "Although today's housing market presents an opportune time to purchase a home, many first-time buyers are unable to do so because they lack the needed resources, such as a down payment or closing costs," said Mike Hardwick, president of Churchill Mortgage. "Programs like 'My First Texas Home' offer an excellent opportunity for borrowers, but many are unaware," Hardwick continued. "We aim to raise awareness and help more individuals achieve their goal of owning a home." Vericrest Rebrands as Caliber Home Loans Vericrest Financial, Inc., a financial services company with centers in Texas, Oklahoma, and California, announced it has changed its corporate name to Caliber Home Loans, Inc., effective immediately. Caliber Funding and Vericrest previously announced in January plans to combine organizations to create a full-service residential mortgage banking organization offering origination and servicing solutions. The new name was selected to represent the company's customer-friendly focus and broad range of mortgage banking services. "Vericrest Financial and Caliber Funding have continued to grow and evolve since the merger was announced and our teams have been hard at work bringing our two companies together," said Joe Anderson, chairman and CEO of Caliber Home Loans. "Changing Vericrest Financial's corporate name to Caliber Home Loans marks a significant milestone in this process and brings us one step closer to combining these two companies." The legal close of the merger is expected in coming months and is subject to customary closing conditions. The combined organization is owned by Lone Star Funds and will continue to have the capital backing of its parent company. MCS Expands Mobile Offering Through Integration with Pruvan Mortgage Contracting Services (MCS), a national property preservation and inspection company, announced it is teaming up with Pruvan, a Round Rock, Texas-based company that offers a photo app for field-based businesses. MCS' MCS360, a Web-based technology platform used to manage inspections, property preservation tasks, and REO services, will be integrated with Pruvan's mobile photo management platform, which VISIT US ONLINE @ DSNEWS.COM provides real-time reporting and enhanced quality control for MCS vendors. Through Pruvan's platform, vendors can complete work and capture photos on Pruvancertified smartphones and tablet devices. Pruvan presents MCS order information and controls the capture of work photos, which are sent to Pruvan's cloud-based certification service and delivered to MCS360. By using Pruvan, MCS says field turn times can be reduced, quality control will be improved, and information such as when and where a photo was taken can be confirmed. "We are excited to expand our mobile and quality offering to include Pruvan's powerful mobile photo management platform," said MCS CEO Caroline Reaves. "Pruvan is a preferred mobile service provider, giving MCS assurance that work was performed at a certain level of quality, at a particular time, and in a particular place. The combination of Pruvan's technology and tight integration with MCS360 provides us and our vendors with a powerful new tool." Wingspan Acquires Dimont & Associates Dallas-based Wingspan Portfolio Advisors recently announced its acquisition of Dimont & Associates, a national hazard insurance claims management company. The acquisition increases Wingspan's size to approximately 2,000 employees and expands its reach to the San Diego area. "Dimont & Associates has built great brand recognition by serving mortgage holders' insurance claims needs with superb skill since 1996," said Wingspan CEO and president Steven Horne. "We are truly excited about the many synergies between our two companies, as well as the unique ways in which Dimont and Wingspan will complement each other to bring an even more impressive array of services to our clients." Under the terms of the agreement, Dimont & Associates will retain its name and become a wholly owned subsidiary of Wingspan Portfolio Holdings, Inc. According to Horne, Dimont & Associates will "experience few, if any, noticeable changes." "Our guiding principle has been to maximize value for clients in the insurance they have paid for with meticulous accuracy," said Dimont & Associates founder Bernie Dimont, who will continue in his leadership role. "We have worked hard to set new standards for our industry over the past 17 years. Our new relationship with Wingspan 91