LenderLive Network Inc., an end-to-end mortgage service provider, has announced its expansion into private-labeled sub-servicing and specialty servicing. To manage the expanded loan servicing division, LenderLive has tapped David Vida as its new chief strategy officer and executive vice president of loan servicing.
The company operates through five divisions: Origination services, conduit services, settlement services, document preparation and loan servicing. For the past two years LenderLive has been a provider of component servicing solutions to servicers in the fulfillment of loan modifications and short sales. Through its expanded servicing division, LenderLive will offer traditional subservicing of performing assets, end-to-end specialty servicing to help optimize the resolution of distressed assets and will continue to provide component servicing for loan modifications, short sales and real estate-owned (REO) asset management. Last year, the company was involved in 25 percent of all Home Affordable Modification Program (HAMP) loans in the country.
Vida brings more than 20 years of experience in the mortgage industry to LenderLive. Most recently, he was the founder and chief executve officer of Acqura Loan Servicing and Strategic Recovery Group. He was also president and co-founder of City Mortgage Services and held senior roles at H&R Block Mortgage and Option One Mortgage Corporation.
“We anticipate David’s level of expertise and vast experience in servicing will help us tremendously with our expansion into loan servicing and his broader knowledge of the mortgage industry will help us align all of our services into a cohesive service offering,” said Rick Seehausen, chief execuitve officer of LenderLive.
“For the past 11 years, LenderLive has produced a tremendous track record and garnered great respect in the financial services industry in delivering scalable, flexible and innovative solutions through its methodologies and proprietary technology,” Vida said. “We plan to further leverage the LenderLive platform and strategically integrate servicing into the company’s offerings and corporate culture.”
For more information, visit www.lenderlive.com.