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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 20 April 2023 I N D U S T R Y U P D A T E and Lansing, Michigan, Celink is a Ginnie Mae-approved Participation Agent and Subcontract Servicer for the HMBS program, a DBRS Morningstar-approved servicer, as well as a Moody's-approved servicer of reverse mortgages. LOANCARE UNVEILS NEW VELOCITY SERVICING DIVISION M ortgage subservicer LoanCare LLC has announced the launch of Ve- locity Servicing, an independently managed division dedicated to delivering one-stop resolution for credit-sensitive mortgage loans by managing the borrower relationship and providing transparency into servicing performance. Utilizing advanced data analytics, Velocity Servicing puts distressed mort- gage loans on the path to resolution faster than traditional servicing. By analyzing an intelligent network of triggers, exceptions, and conditions at the loan level, it achieves a consistent return on investment earlier in the process. In addition, the division works with clients on establishing portfolio goals and executing on a loan-by-loan disposition plan. Velocity Servicing can uniquely structure a solution tailored to a homeowner's situation, helping them understand their options and make decisions at a pace that puts both the homeowner and client at ease. "At LoanCare, we are always looking for ways to improve portfolio performance and provide the highest level of service," said Dave Worrall, President of LoanCare. "Veloc- ity Servicing is a major step forward in our commitment to improve asset performance through high-touch servicing while driving a higher ROI for mortgage investors." Velocity Servicing offers clients the talent and process rigor proven to address the unique challenges of specialty loan servic- ing, along with the ability to leverage the scale of LoanCare, including its best-in-class compliance processes, risk management infrastructure, and proprietary data analytics platform which monitors and predicts risk and opportunity across a portfolio. The division has invested in and developed tools specific to this strategy, such as Portfolio Arc, a loss mitigation data model. "The Velocity Servicing team has deep loss mitigation experience along with the expertise and personalized service skills nec- essary to turn distressed loans into perform- ing assets," said Matt Stadler, President of Velocity Servicing. "The partnership between Velocity and LoanCare creates a unique offering in the servicing space, delivering our partners better resolution times with significant reduction in losses. Together, we help our clients turn distressed loans into performing loans faster." BLACK KNIGHT APPROVED TO SUPPORT FANNIE MAE'S NEW VALUATION OPTION B lack Knight Inc. has announced that it has been named one of only six vendors approved by Fannie Mae to support the GSE's new valuation option: value acceptance plus property data. Fannie Mae announced the new option in lieu of appraisals on March 1, 2023, in updates to its Selling Guide. With the new valuation option, lenders, AMCs, and other property data collection companies can use SCOUT, Black Knight's innovative and versatile mo- bile property inspection application, as part of the value acceptance plus property data process. The value acceptance plus property data option allows for a trained and vetted third party to conduct interior and exterior data collection on a subject property. As part of this process, the lender or their vendor re- views the collected data for accuracy and that the property meets loan eligibility require- ments. Black Knight has worked closely with the GSEs to support their appraisal modern- ization initiative. With the cloud-based SCOUT app, users can easily collect detailed interior and exterior property data using a mobile device. Through built-in rules, users input specific home characteristics and take photos based on Fannie Mae's proprietary data require- ments. GPS tracking and other measures to "At LoanCare, we are always looking for ways to improve portfolio performance and provide the highest level of service." —Dave Worrall, President, LoanCare