ServiceLink has announced expanded the availability of its HARP 2.0 solutions to lenders nationwide, including regional and smaller national lending institutions, which stand to benefit most from this enhanced government program. To date, ServiceLink has successfully completed hundreds of thousands of HARP transactions for its customers, helping borrowers stay in their homes in the process. HARP transactions may be submitted to ServiceLink in a variety of ways, including custom systems integration, the company's Web site or through third-party transaction platforms.
Once a lender has identified and solicited a borrower for participation in the HARP 2.0 program and assigned the loan to ServiceLink, ServiceLink then runs the loan data through its proprietary SmartConneXion iApprove platform to make informed title workflow decisions, triggering rapid production of title commitments and "clear to close" notifications. This allows ServiceLink to measure the delivery of title commitments in minutes rather than hours or days. Additionally, over 90 percent of the loan files that ServiceLink manages through this process achieve a "clear to close" title in just two days.
Through its Web-based closing solution, iClose, ServiceLink then works directly with borrowers to review and execute the loan documents from virtually any location at any time. Access to real-time, face-to-face video technology further enhances the borrower experience for ServiceLink's customers. Additionally, HARP closings leverage all of the available closing solutions, including in-home signings, in-branch signings and traditional office closings.
"As a company, ServiceLink is committed to providing lenders with the tools that they need to manage their HARP 2.0 programs more efficiently and profitably," said Chris Azur, president of ServiceLink. "We have designed our solutions to scale to market demand, and I am proud of the positive impact that we are making on behalf of our customers and their borrowers. As the HARP program continues to evolve and grow, our lender customers are well positioned to react quickly to guideline changes and further ensure compliance of their processed loans."
