Equator, a software provider of default servicing solutions, has announced the launch of its Home Affordable Foreclosure Alternatives (HAFA) software solution, which will coincide with the beginning of the HAFA regulations. Equator's solution provides lenders and servicers with the technology needed to service the hundreds of thousands of loans estimated to be eligible for HAFA in 2010.Read more

Level 1 Loans, a wholly-owned subsidiary of The Sextant Group Inc., has announced that Tom Healy III has joined the firm as product manager. Tom's primary role will be overseeing both product communication and revenue growth for Level 1 Loan's asset valuation solutions. Level 1 Loans provides valuations and valuation software for mortgage loans and mortgage servicing rights. Level 1 Loans also performs other analyses on these assets such as loan loss provision calculations, prepay analyses, and stress tests.Read more

Wells Fargo & Company has announced that it has signed the second lien modification component of the Obama Administration's Home Affordable Modification Program (HAMP). The program will be offered to qualified Wells Fargo and Wachovia second lien mortgage customers who have completed their HAMP modifications on their first mortgage.Read more

We have all heard complaints concerning appraised values being lower than selling prices in today’s recessionary environment. The buyer wants to buy a property and the lender wants to make a loan, but the appraisal stands in the way. There are a lot of possible reasons for this, and not all situations are the same.Read more

Integrated Mortgage Solutions and REO Leasing Solutions LLC have joined forces to address rapidly growing loss mitigation and real estate-owned (REO) challenges in today’s housing market. According to recent reports, more than five million households are behind on their mortgages and risk foreclosure. With unemployment rates hovering near 10 percent nationwide, the number of distressed borrowers is likely to remain high as well over the next year. Servicers are in need of solutions that help them manage the increasing volume of defaulted loans on their portfolios.Read more

HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors has announced that its January 2010 data estimates 99,499 homeowners received proprietary loan modifications for the month. Combined with the United States Treasury’s recently released Home Affordable Modification Program (HAMP) data that showed 50,364 HAMP modifications for January, the total number of loan modifications is almost 150,000 for the month.Read more

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1.7 percent compared with the previous week.Read more

Loan Resolution Corporation has announced that it is adding 100 positions in March to meet demand for the government’s new Home Affordable Foreclosure Alternatives (HAFA) program. The 100 full-time positions are necessary to meet the company’s growth as demand for short sales and deed-in-lieus skyrockets. The Scottsdale-based company moved into a 30,000-sq.-ft. office in North Scottsdale in September 2009.Read more

Elliott & Company Appraisers has announced the promotion of Client Services Director Carlyle Holt to the position of vice president. Holt literally grew up in the mortgage lending industry and has an extensive background in property and casualty insurance and commercial and residential construction restoration. He has a bachelor’s degree in economics from North Carolina State University and currently holds a North Carolina Loan Officer License and a North Carolina Real Estate License.Read more

Equi-Trax Asset Solutions LP, a national collateral valuation provider, has announced it has promoted Danielle Drewisch to the position of director of client relations. “I enjoy the challenge and the opportunity of this new position," said Drewisch. "It affords me the opportunity to use my title and escrow experience to help our clients and vendors."Read more