know. We provide a simple format, with real life examples that most loan officers no doubt have already experienced.”
new to market continued from page 12
of choice for this population of borrowers, and the mortgage brokers and real estate agents who work with them. Our message is clear: You can count on Carrington to serve the underserved and get the tough loans done right.” Effective April 1, Carrington will eliminate conventional and jumbo loans from its wholesale product line and limit its acceptance of wholesale submissions with FICO scores above 680. However, Carrington will continue to serve veterans with VA loans across the credit spectrum. The company feels strongly that this move is necessary for appropriately allocating its resources to provide optimum support to borrowers in the underserved market.
transaction. The title work provided on a transaction is probably the most overlooked portion of a mortgage transaction. The “not my job” attitude prevails. But while that may be true, perhaps no other element can affect your deal like a title issue can. And typically the issue is brought to light late in the transaction, further complicating things. Indeed Abstract is offering free, live or Webinar-based training to loan officers. “By no means is this detailed, title training,” said Amoroso. “Rather, it is a sales approach to what you really need to
Quandis Adds Additional Functionality to KMC Information Systems App Quandis Inc. has announced that it has added new functionality to its existing bankruptcy search interface with KMC Information Systems LC’s (KMCIS) CaseAware application. CaseAware is a case management system (CMS) for default servicing law firms to efficiently manage, process and communicate with other parties in order to complete foreclose related tasks and transac-
tions. Quandis developed an automated search service of PACER (Public Access to Court Electronic Records), the United States Courts bankruptcy locater system, which locates borrower bankruptcy information across the country. The enhanced solution eliminates the need to add staff, saves huge amounts time, lowers costs, reduces errors, boosts employee productivity and returns court documents in a standardized, organized fashion to ensure data integrity. Information is obtained from PACER and returned back into CaseAware in realtime to determine if a borrower has sought protection under federal bankruptcy laws, thus enabling organizations continued on page 47
GSF Unveils New Credit Care Program
Indeed Abstract has announced that it is now offering title training to loan officers. The point of the training is to educate loan officers to understand the basics of the title procedures, and more importantly, to identify a potential issue early on in the transaction. “Early detection, and understanding how to deal with the issue, saves deals and instills confidence in the eyes of your borrowers” said Joe Amoroso, managing director of Indeed Abstract. The common theme amongst the most successful loan officers is that they understand all aspects of the mortgage
n National Mortgage Professional Magazine n APRIL 2014
Indeed Abstract to Offer Title Training to LOs
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GSF Mortgage has unveiled its GSF Credit Care program. GSF Credit Care offers a free credit report, 90 days of free credit monitoring and $1 million in identity theft insurance; no credit card required. In a time where more people are more aware of how low credit scores can affect their every day lives and with credit fraud being more prominent, GSF Mortgage is proud to step in and offer our customers a way to take control. We are dedicated to helping our customers assess and understand their credit score in a unique easy to read format. Taking control of credit information is a valuable step when our customers are securing their financial future. “We are very excited to offer this service to our customers. Understanding your credit score and verifying the accuracy of accounts reflected on your report is a very important step in the mortgage process. It is not a secret that higher credit scores translates to lower interest rates and more borrowing power. We want to help develop that power for our customers and put them in the best possible position for their transaction,” said GSF President Chad Jampedro.