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Altisource Launches Bundled FHA Product

NationalMortgageProfessional.com
Mar 04, 2019
Altisource Portfolio Solutions has announced that Stephen J. Kolimaga has been appointed Vice President, Enterprise Sale

Altisource Portfolio Solutions has announced the launch of its bundled FHA product, which provides customized asset management services for delinquent FHA loans.
 
Altisource’s FHA offering typically begins with asset oversight at the 60-day delinquency mark and extends through the first Claims Without Conveyance of Title (CWCOT) sale and, if required, the second chance sale. Utilizing Equator, Altisource’s residential loan default software and marketing solution, Altisource can help servicers manage the asset marketing and conveyance process (including field services, valuations, title services, online marketing and auctions) from one place. In addition, the Equator platform includes a proprietary FHA model that leverages the data feeds and workflows to help optimize outcomes for servicers.
 
The features of the FHA Modeling Tool include:
 
►Market Analysis: Provides comprehensive data for assets under management, allowing for re-optimization throughout the post-sale lifecycle.
►Forecasting: Indicates the estimated cost of conveyance and holding timeline to compare various disposition processes and outcomes, including potential servicer contributions.
►Actionable Data: Displays percentages of profitability and potential gain/loss for each potential decision based on current market data.
►Records: Stores a history of multiple model outputs in one location to keep record of an asset containing all modeled values, user edits for tuning, strategy decisions and commentary for collaboration on execution.
 
“Now is the time for servicers to review their internal capabilities and ensure they engage the best and most experienced vendors to effectively prepare for a growing FHA portfolio,” said Patrick G. McClain, Senior Vice President of Equator and Hubzu Auction Services for Altisource. “Our FHA modeling tool, in combination with the bundled Altisource FHA products, offers servicers the potential to mitigate some of the costs and risks associated with conveying assets back to HUD, and view the status and results through Equator.”

 
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