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VISIT US ONLINE @ DSNEWS.COM American Home Mortgage Servicing Is Now Homeward Residential; Firm Steps Up Code Compliance American Home Mortgage Servicing, Inc., has a new brand name moniker. The Coppell, Texas-based mortgage firm is now known as Homeward Residential. The name change became official in late May and, as originally announced in February, reflects the company's expanded lending and servicing capabilities. More specifically, it aligns with American Home Mortgage's transformation to a full-service mortgage banking enterprise with the company's entrance into residential lending and other real estate finance-related businesses. "Homeownership is a significant part of the American dream and Homeward is the ideal identity to signal our commitment to the aspirations of our customers," the company said in a statement posted on its website. American Home Mortgage was founded in 2008. It's grown into the 13th largest mortgage servicer in the United States, managing nearly $71 billion in loan servicing and representing approximately 374,000 borrowers. The company advised customers to look for website and billing statement changes in late May and June. In late April, just before launching a widespread brand awareness campaign on its new corporate identity, the company formed a partnership with Compliance Connections to be more proactive when dealing with code issues affecting its property portfolio. Compliance Connections offers a webbased portal, allowing mortgage servicers to communicate immediately when code issues arise. When notices are posted, they are delivered electronically, rather than through traditional mail, saving time and money, and preserving the value and condition of real estate assets and the communities in which they are located. "If a window is broken at one of our properties or has other violations, we need to know about it so we can take care of it right away," said Rance Halfmann, VP of default operations support at Homeward Residential. "That's what Compliance Connections will help us do," Halfmann explained. "Through the system, a code enforcement officer can notify us immediately so we can act promptly to keep our properties and surrounding neighborhoods safe and secure and maintain property values." Compliance Connections, headquartered in Plano, Texas, is a Safeguard Properties company that offers technology-assisted solutions and fulfillment services in the areas of code violation and compliance. The Compliance Connections platform provides loan servicers, code enforcement officers, and others involved in the code violation process a secure workflow management system for tracking and remedying violations. Vermont rank: 16 90+ Day Foreclosure Unemployment Delinquency Rate RateRate march 2012 1.59%3.81% 4.8% year ago 1.62%3.20% 5.8% percent point change -1.5% 19.2%-17.2% Top County CALEDONIA COUNTY 90+ Day Delinquency Rate Foreclosure Rate march 2012 2.86%5.83% year ago 2.27%5.32% percent point change 26.1%9.5% Utah rank: 36 90+ Day Foreclosure Unemployment Delinquency Rate RateRate march 2012 Top Core-Based Statistical Area BURLINGTON-SOUTH BURLINGTON, VT 90+ Day Foreclosure Delinquency Rate Rate march 2012 2.77%2.07% 5.8% 1.21%2.74% year ago year ago 3.02%2.34% 7.1% 1.32%2.26% percent point change percent point change -8.3% -11.3%-18.3% Top County 90+ Day Delinquency Rate IRON COUNTY -7.9%21.0% note: Foreclosure Rate march 2012 The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 3.40%3.94% year ago 3.84%3.79% percent point change -11.3%4.0% Top Core-Based Statistical Area ST. GEORGE, UT 90+ Day Delinquency Rate Foreclosure Rate march 2012 2.90%2.84% Driven by the inDustry, for the inDustry year ago 3.81%3.77% percent point change -23.9%-24.8% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Utah Sterling Castle Realty, Inc Sterling Barton, Broker 801-692-1080 sbarton@sterlingcastlerealty.com Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. 107