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

Saxon Mortgage Services Inc. has announced the appointment of John P. Kim to lead business development. His appointment comes as Saxon repositions itself into the residential subservicing space, specializing in distressed asset servicing and non-performing asset management. In this role, Kim will focus on business development with third-party customers, promoting Saxon’s services and serving as relationship manager to banks, hedge funds, asset managers and the government-sponsored enterprises (GSEs).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

UnitedTech Lender Services Inc. (UTLS), holding company to the UTLS family of companies, has enhanced its strategic management solutions provided by its subsidiary UTLS Consulting Services. Specializing in consulting and staffing to the servicing industry, UTLS Consulting provides mortgage domain operations, analytics and IT contract resources. Enhanced solutions are aimed at providing further process reduction and improved productivity. To further structure the enhancements of UTLS Consulting Services, they will operate nationally and centralize their main office in Dallas, Texas.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

Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage and real estate industries, has announced the launch of its professional short sale service. Offered through LPS Asset Management Solutions, LPS' short sale solution helps servicers respond more quickly to short-sale offers and close more transactions. In the current environment, servicers must be prepared to efficiently leverage alternatives like short sales.Read more

Fiserv Inc., a provider of financial services technology solutions, has announced enhanced investor capabilities for its Loan Servicing Platform. The technology allows users of its Loan Servicing Platform to have real-time access to the cash position as it relates to their investor portfolios. San Francisco-based Bank of the West, with $60 billion in assets, is already using the new investor capability on the Fiserv Loan Servicing Platform.Read more