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38 Journal ADVANTAGES OF A HOLISTIC FHA SOLUTIONS PROVIDER Since 1934, the Federal Housing Administration (FHA) has insured more than 40 million mortgages for single-family, multifamily, and residential care facilities nationwide. Today, as millions of Americans face continued difficulties from the COVID-19 pandemic, the FHA has taken proactive policy steps to assist homeowners facing hardships, including options such as forbearance, partial claims, and streamlined loss mitigation options. For those impacted by COVID-19, this has stepped up mortgage servicer and housing counselor engagement to manage forward and reverse mortgage loans. 1 As the importance of servicing these loans and the potential for more defaults increase, so has the complexity of managing the process. ere are several activities working in parallel while servicing a default asset, and the FHA has provided several beneficial options for dispositioning of an asset. In many instances, there are different vendor partners assisting the servicer for each of these disposition options, which branch across multiple departments. Auction, property preservation, and title each play a key role in the success of managing the asset and mitigating losses. ese products and services have historically been divided and spread throughout multiple service providers. is can create the need for numerous points of outreach to determine a strategy for resolving potential or existing delays. With these numerous touchpoints come an increased chance for failure or delay within the process. is can make it challenging for a servicer to have a clear line-of-sight into the successful path. Finding an experienced and reliable servicing partner is crucial to ensure a streamlined workflow. Getting as much of the auction, property preservation, and title components under one roof allows for consistent communication, faster turnaround, and more accurate resolutions. "ServiceLink has developed an inclusive FHA solution," says Matthew Rogina, VP, National Sales Executive for ServiceLink. "rough data integrations, shared quality control metrics, FHA expert training, strategic internal collaboration, and our expansive product, service, and geographic footprint, we've brought these areas together and aligned with our servicer clients." ServiceLink's focused approach with an end goal of effectively and efficiently mitigating issues, keeps the process moving in the right direction to successfully dispose assets. By centralizing efforts through a single service provider, servicers can meet timelines and minimize losses. "When we have a servicing partner that has all products with ServiceLink we take much of the handoffs in communication in-house at ServiceLink to lessen our partner's hands-on involvement in day-to-day activity," says Anthony Scotese, VP, Operations at ServiceLink. "is can range from notification from Auction to Field Services that an asset is under contract or Field Services notifying Title that a property is a mobile home and providing them with the necessary photos of tags and data labels from within the mobile home to streamline de-titling. By ServiceLink taking on these processes our servicing partners have more time to perform more valuable oversight and decision-making functions." AUCTION ServiceLink's nationwide asset marketing and auction services, along with best-in-class portfolio analytics, move auction assets quickly from foreclosure through second-chance or REO into streamlined closing. Offering third-party sale and second-chance auctions, the ServiceLink auction process helps to minimize unnecessary preservation spend on loans with accepted offers, as well as escalating loans that may take longer to convey due to damages but are still eligible for second-chance. TITLE ServiceLink Title has access to preservation systems of record to identify dwelling types and HUD tags to decrease de-titling delays. From pre-foreclosure to the industry's first "one-stop" FHA post-sale title solution, ServiceLink ensures efficient outcomes. PROPERTY PRESERVATION Synchronous property preservation services, along with title and auction, expedite timing and reduce risk. ServiceLink's property preservation and title teams each leverage dashboards to prioritize and show which loans are certified in conveyance condition (ICC) along with title status to decrease conveyance timelines. Once in auction, the ServiceLink property preservation team can identify severely aged, high-risk FHA files to bring forward the best course for disposition. To learn more about the services that are part of ServiceLink's streamlined FHA strategy, visit SvcLnk.com/servicers/default. SPONSORED CONTENT 1 U.S. Department of Housing and Urban Development, November 15, 2021, FHA Releases 2021 Annual Financial Report to Congress, [Press Release], www.hud.gov/press/press_releases_media_advisories/HUD_no_21_187