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88 Florida Minority Certified Business MIAMI-DADE & BROWARD COUNTIES 786-499-6994 www.REOPitStop.com Luis@ContinentalRealtors.com RESNET ID: 106089 | Equator ID: 272261 Luis F. Guzman Broker/Owner FLORIDA LenderLive Takes on PHH's Private Label Ops LenderLive Network LLC recently reached a definitive agreement with PHH Mortgage Corp. to assume its private label fulfillment operations in Jacksonville, Florida. For the uninitiated, PHH late last year an- nounced that it had its fill of the private label fulfillment business, opting to gracefully bow out of the sector and then turn over its opera- tions to LenderLive. e pair's freshly inked agreement, approved by the boards of both companies and all other appropriate parties, is expected to facilitate a smooth changeover for both PHH employees and clients. After the deal closes, the transitioning associates will become LenderLive employees, and the Jack- sonville operations center will be rebranded as LenderLive. "We are excited about the opportunity of adding a significant number of talented mortgage professionals and establishing a new operations center for LenderLive in Jackson- ville," said Rick Seehausen, LenderLive CEO. "e arrangement accelerates our long-stated imperative of driving scale and operating le- verage in our private label Mortgage Solutions business." Under the agreement, PHH will outsource loan processing, underwriting, and closing activities to LenderLive until the contracts with its current clients served out of Jackson- ville have been transitioned and/or completed. LenderLive will service these accounts from the operations center in Jacksonville and in- tends to hire 250 to 300 PHH staffers to work from that locale. roughout this year, clients requir- ing outsourced fulfillment services will be transitioned to LenderLive. Another benefit of the agreement: e Jacksonville operations center, a capacious piece of real estate capable of supporting some 700 employees, will allow LenderLive to expand its operations to meet the demand for services from its current and future clientele. "We look forward to welcoming our new associates and demonstrating the benefits of our platform and business model to PHH clients," Seehausen added. "is is a win-win for everyone involved." ARMCO Equips ACES Audit with Updatable, Customizable Questionnaires ACES Risk Management (ARMCO), a provider of web-based audit technology for the mortgage industry based in Pompano, Florida, unveiled new capabilities for its ACES Audit Technology. Servicers can now modify and update compliance questionnaires in ACES as rules and processes change. "Now more than ever, servicers face an influx of new compliance rules and regulations from federal, state, and GSE requirements that they must adhere to," said Phil McCall, COO of ARMCO. e questionnaires in the ARMCO ACES Audit Technology platform are completely customizable. As rules change, servicers are able to make their own changes to question- naires and begin to use them immediately. "Due to an increasing spotlight placed on servicers, we enhanced the ease of configura- tion and self-sufficient change management capability to our own platform, which now provides servicers with complete control to make changes in real-time to comply with the complexity of new rules," McCall said. ACES Audit Technology accommodates several mortgage servicing functions, includ- ing traditional loan servicing tasks, such as customer correspondence and handling of complaints; specialty servicing tasks, such as adjustable rate mortgages, assumptions, bankruptcy, and specialty HUD projects; and default servicing tasks, such as collections, loss mitigation, and foreclosures. ARMCO also added questions specific to USDA programs into its ACES offering to handle administration of annual escrow fees, construction processing and repair escrows, and default processing. All of these are easily added into existing questionnaires as servicers need. Outsourcing May Be Best for Lender Document Trailing Nationwide Title Clearing—a postclos- ing services provider based in Palm Harbor, Florida, that serves many of the nation's largest financial institutions, investors, servicers, and custodians—released a white paper for lenders offering a scoring method to help them man- age their trailing-document process after a loan is originated. "Evaluating your own trailing-documents process regularly is a best practice that will help your company avoid negative attention from regulators and help you maximize the return from limited resources," said Chelsea Seguin, National Title Closing's AVP of File Services and co-author of the white paper. Nationwide is rereleasing the white paper, which was originally released in 2014, saying it has been its most-viewed white paper. e paper, titled Scoring Your Trailing Document, offers a 12-step scoring method and tips on document tracking, document research, and quality control. It also covers the topic of outsourcing document trailing. "ere are many potential savings and ef- ficiencies to be realized if lenders take the time to look for them," Seguin said. "is is true whether they handle these processes inter- nally or outsource them to a qualified vendor partner." Outsourcing, according to Seguin, can be a favorable solution. "Outsourcing is often the most cost- effective option when looking at the loan from a cradle-to-grave perspective," according to Nationwide Title Clearing. Vendors offering document-trailing management should "afford the lender with all the benefits of a technologically advanced system and process without forcing the lender to build, manage, and maintain one of their own," Nationwide said. Another benefit of outsourcers is that they may also offer services to address needs later in the life of the loan, including lien releases and assignments. Westcor Land Title Insurance Spawns Tech-Focused Niche Westcor Land Title Insurance Company, based in Winter Park, Florida, recently added