Corelogic has released a new default servicing platform to the mortgage industry that will streamline the way mortgage servicers manage loans through all stages of the default lifecycle. The new platform, DefaultView, opens pathways between previously disconnected servicing functions, allowing an exchange of information across multiple departments. The platform offers nine modules that interconnect within its architecture to help provide a more efficient and transparent default servicing operation.
DefaultView uses a master-loan architecture that offers a singular view of a loan. This design enables end users across a default enterprise to easily see a complete transaction history including workflow steps, resulting data, outcomes and all related documents and messages. By enabling top-down transparency across all relevant default departments and functions, the platform simplifies reporting and strengthens management oversight.
http://www.corelogic.com/about-us/news/new-corelogic-technology-platform-to-help-mortgage-servicers-adapt-to-loan-default-process-changes.aspx
Congress will decide this week whether to reinstate the limit on government-backed home loans in high-cost areas to $729,750.
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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/15/BUIQ1LV1P3.DTL
Reverse mortgages may very well be a good choice for some seniors who need to tap into equity they
have in their homes. But there are other options elder owners might also want to consider.
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http://lat.ms/laBFqR
Fannie Mae recently announced the launch of KnowYourOptions.com, a new consumer education Web site outlining the choices available to homeowners struggling to meet their mortgage obligations. The online resource, which offers information in both English and Spanish, provides guidance on how borrowers can contact and work with their mortgage servicer to find solutions.
Key features of KnowYourOptions.com include:
- Interactive Options Finder to help homeowners identify options that might be right for their situation;
- Calculators to help borrowers understand how many of the options work, including refinance, repayment, forbearance, and modification;
- Videos featuring real homeowners discussing how they received help and housing counselors providing advice;
- A virtual assistant to walk homeowners through key areas of the site; and
- Next steps and helpful forms, including a financial checklist and contact log to help borrowers be prepared when contacting their mortgage company or housing counselor.
Fannie Mae plans to implement a comprehensive marketing outreach campaign to raise awareness about the site and also intends to use the site as a vehicle to roll out new options for borrowers that are currently being developed.
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