Mortgage Daily Logo

Service Providers Assist in Short Sales

Mortgage News

A host of recent offerings promise to help mortgage servicers manage short-sale transactions. Newly developed short-sale platforms connect service providers with servicers and help all parties keep track of their transactions.

Special servicer Wingspan Portfolio Advisors recently touted its efficiency in handling short sales. It claims that its average short sale takes between four to six weeks to complete versus up to six months for the industry.

The Dallas-based firm’s completion rate is 80 percent compared to 30 percent for the industry as a whole.

Wingspan says the short-sale offers that it presents to servicers have been pre-screened for errors and other issues that traditionally stall the process. It also works out junior lien problems.

In April, Wingspan announced the launch of American Home Remedy to accelerate the short-sale process and eliminate impediments to closing short sales. The service promises to be a “one-stop resource” for initiating short sales.

A month earlier, Wingspan Commander was unveiled. The short-sale technology and service platform empowers realtors with “fast, professional, full-service short sale facilitation, negotiation and closing services nationwide.” In conjunction with the release, access was also made available to Wingspan Certified Short Sale, a pre-contract review service that identifies potential obstacles earlier in the short-sale process.

Short sales can now be tracked as a result of enhancements to RiskFinder Distress, DataQuick recently announced. The improvements utilize national and local sales information and also track REO liquidation and auction sales.

Distressed borrowers in Southern Arizona can receive short-sale consultation, legal counsel and assistance through a partnership announced between Integra Group Real Estate LLC and Fairway Independent Mortgage Corp. Borrowers will learn about how a short sale will impact their credit scores and income tax liabilities as well as the potential liabilities and statutes of selling or surrendering distressed properties.

A short-sale tracking and fulfillment portal through a joint venture announced earlier this year between CSC and Quandis promises to accelerate processing cycles. An agreement between the two service providers calls for building and maintaining an online data exchange interface to facilitate short-sale offers between servicers, agents, borrowers and investors through a single platform.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

The Mortgage Graveyard 2018 Archives

The Mortgage Graveyard 2018 Archives Failed, Struggling and Acquired Mortgage-Related Companies Non-Bank Closures 3 Bank Failures (FDIC) 0 Credit Union Failures 0 Total Mortgage-Related Failures 3  

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Sample E-Mail

Sample E-Mail   Covering the Real Estate Finance Since 1999  Mortgage Industry News free news content | view headlines online  Advertorial Text Ad This ad includes a linked bold headline of up to 50 characters and up to 100 words of text. The ad can be...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Mortgage Servicer Portfolios

Mortgage Servicer Portfolios servicing news | mortgages outstanding statistics | foreclosure news   Servicing Portfolios as of 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 Residential Servicing Portfolios by Servicer...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI