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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 24 May 2024 J O U R N A L LOANCARE RECEIVES FITCH RATING FOR CLOSED-END SECOND LIEN PRODUCTS L oanCare, LLC, a U.S. mortgage subservicer, announced that Fitch Ratings has assigned the company the U.S. residential primary servicer for specialty Closed-End Second Lien products rating of RPS2+; Outlook Stable. In addition, Fitch affirmed LoanCare's U.S. residential primary servicer for Prime product and specialty subservicer ratings at RPS2+ in 2023, reflecting the company's focus on advancing processes and provid- ing subservicing excellence. The rating validates LoanCare's understanding of the complexities involved in servicing home equity lines of credit (HELOC). Due to the added requirements in second lien operations, knowing what's required for state- ments, ensuring interest calculations are accurate, and managing onboarding setup is critical. For customers, it's about educating them on the options and then providing the support tools they need to successfully manage the various scenar- ios. For clients, it's about maximizing the return on their investment in HELOCs. "LoanCare has consistently invested in technology and training to enable superior customer service and seamless, compliant HELOC management. Flex- ible draw, variable rates, promotional rates—our mortgage servicing platform (MSP) handles it all," said Dave Wor- rall, President of LoanCare. "In today's high interest rate environment, lenders are looking for quality, compliant, and cost-effective servicing support for home equity lines of credit, second liens, and construction loans. We have the tech- nology, processes, and people in place to support these products and more." Industry Update MATIC INSURANCE LAUNCHES STRATEGIC PARTNERSHIP WITH USA MORTGAGE M atic, a digital insurtech platform, and USA Mort- gage have joined forces in a strategic partnership to provide property and casualty insurance products to USA Mortgage customers. Under the partnership, Matic's insurance marketplace will be integrated into the USA Mortgage home lending experience, allowing borrowers to shop for personalized rates and coverage as part of the mortgage process. Matic's matching technology enables borrowers to quickly compare insurance options from a network of over 50 national and regional carriers, helping them identify the right choice for their unique needs and reduc- ing the time it takes to purchase a policy. "This partnership represents a sig- nificant milestone in our commitment to provide impactful solutions that enhance the borrower experience," said Ron Mueller, President of USA Mortgage. "Matic's comprehensive carrier network with coverage across the U.S., and their ability to combine cutting-edge technol- ogy with an internal agency was a clear choice to meet the needs of our diverse customer base." USA Mortgage customers will gain access to a wide array of P&C insur- ance products through Matic's digital platform. In addition to home and auto insurance, Matic will offer umbrella, jewelry, flood, dwelling fire, pet, and other personal lines of insurance to meet customer needs within the mortgage originations lifecycle. "Matic was built for the mortgage industry to simplify the insurance shop- ping process during the home buying experience," said Ben Madick, CEO and Co-Founder of Matic Insurance. "We are honored to partner with USA Mortgage to provide value for their customers while streamlining the closing process." As a leading embedded insurance