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» and we are now expanding this platform to serve the broader national marketplace." PennyMac Integrates Quandis Solution to Automate Short Sales PennyMac Financial Services Inc. is implementing a Web-based solution from Quandis Inc. to make the short sale process more efficient. Quandis' solution works by automating PennyMac's back-office workflow for short sales and by providing a centralized Web portal so parties involved in a short sale can complete transactions in a more efficient manner. Through the short sale solution, organizations can receive short sale packages directly from the borrower or the listing agent. California-based Quandis explained borrowers can visit the portal to submit short sale documents, and multiple offers can easily be received and negotiated electronically. The short sale portal not only acts as a connecting point between parties, but also brings greater transparency to the process. The solution also includes alerts, event triggers, and email updates to ensure timely completion of tasks. "The completion of a short sale shouldn't be materially longer than a traditional real estate transaction, barring a requirement for subordinate lien approval. However, it can take up to a year for ill-prepared organizations to finalize short sales in today's market," said Rob Schreibman, director at PennyMac. "When we or one of our customers opts to move forward with a short sale, using Quandis' technology, we are able to complete the transaction efficiently and expeditiously for all parties involved." Wells Fargo Borrowers Pay off $50M in Principal Using Home Rebate Card Wells Fargo's Home Rebate Card has allowed its mortgage customers to pay down a total of $50 million from their loan balances so far. The San Francisco-based bank first launched the card in 2007. When the bank's mortgage customers use the Home Rebate Card for purchases, they also receive rebates that are credited toward their principal. The rebates are applied automatically in $25 increments and continue on until the mortgage is completely paid off. The bank explained that a cardholder with a $150,000 mortgage who spends $1,500 a month on the card could shorten their payment schedule by more than one year. "The card is just one example of how we help customers make smart use of their money and achieve their financial goals," said Beverly Anderson, head of Wells Fargo's consumer financial services group. "The Home Rebate Card provides a way for customers to manage day-to-day spending while automatically paying down what is likely their largest debt—their mortgage." CoreLogic Strikes $661M Deal to Expand Data and Analytics Capacity CoreLogic announced an agreement to buy Marshall & Swift/Boeckh (MSB) and DataQuick Information Systems from the Decision Insight Information Group (DIIG) for $661 million. The transaction, which is expected to close during the third quarter of this year, will expand the Irvine, Californiabased company's data and analytics segment. MSB provides residential and commercial property valuation solutions to the property and casualty insurance industry, and DataQuick—with a database of more than 120 million residential properties—supplies real estate data, analytics, and business solutions to the broader mortgage industry. DataQuick services include customized analytical solutions, credit reporting, flood zone determination services, fraud monitoring, property valuation, and automated decision software. "The acquisition of MSB and DataQuick significantly expands our footprint in property and casualty insurance and adds additional scale to our existing property data and analytics business," said Anand Nallathambi, president and CEO of CoreLogic. According to a company release, MSB operations and DataQuick's data licensing and analytics units will be integrated into CoreLogic's data and analytics segment, while DataQuick's flood zone determination and credit servicing operations will be combined with CoreLogic's mortgage origination and services division. VISIT US ONLINE @ DSNEWS.COM Colorado rank: 48 90+ Day Delinquency Rate Foreclosure Rate May 2013 1.4% Unemployment Rate 0.9% 6.9% year ago 1.8% 1.6% 8.2% year-over-year change -23.5% -43.1% -15.9% Top County Las animas CounTy 90+ Day Delinquency Rate Foreclosure Rate May 2013 2.9% 3.4% year ago 2.5% 1.8% year-over-year change 14.9% 89.5% Top Core-Based statistical area PueBLo, Co 90+ Day Delinquency Rate Foreclosure Rate May 2013 2.2% 1.5% year ago 2.4% 2.1% year-over-year change -9.8% -28.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary May 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Colorado Re/Max Alliance & The Haas Team ZAC BROWN 303-456-7790 Direct || 303-619-4803 Cell www.zacbrownrealestate.com www.thehaasteam.com zaclbrown@aol.com IN THE NEWS LenderLive Selected by Pingora for Subservicing LenderLive Network, an end-to-end mortgage services provider headquartered in Colorado, announced a partnership to provide subservicing for Pingora, a specialized asset manager focused on investing in and managing the servicing of newly produced mortgage servicing rights 75