new role at Titan. Previously, Conner has been involved in processing and underwriting departments for regional offices of some of the largest lenders and financial institutions in the U.S. She also has extensive experience managing underwriting and operations with small- to mid-sized lenders, giving her a broad perspective on achieving quality and superior customer service at any volume level. “Outsourcing underwriting eliminates a potential source of human error and risk for mortgage lenders—especially those that are growth oriented and risk averse,” Conner said. “My goal in leading Titan’s processing and underwriting service is to provide topshelf customer service with the highest possible quality to ensure the salability of our clients’ loans.”
New Short Sale Technology Launched by Wingspan
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WISCONSIN MORTGAGE PROFESSIONAL MAGAZINE
Computer Science Corporation (CSC) has announced that it has teamed with Quandis to offer CSC’s EarlyResolution clients and prospects a new short sale tracking and fulfillment portal to accelerate processing cycles. This benefits consumers who wish to sell their homes instead of foreclosing and reduces losses for mortgage investors. EarlyResolution is CSC’s lending default management system, which, together with the complementary functionality from Quandis, will enhance coordination across the entire mortgage loss mitigation life cycle, including short sales, helping mortgage servicers to improve communications and provide a single point of contact (SPOC) for borrowers. Under the agreement, CSC and Quandis will build and maintain a Web-based data exchange interface to facilitate short sale offers between servicers, agents, borrowers and investors in one platform. Through the Software as a Service (SaaS) offering, users can coordinate time-sensitive information and provide a single audit trail from initial borrower contact through short sale plan completion. The interface will improve operating efficiencies and reduce short sale case cycle times, increasing the probability of short sale approval. “Short sales are becoming more prevalent as the mortgage delinquency pipeline moves from retention toward litigation,” said Scott Stoddard, chief executive officer of Quandis. “Approximately 30 percent of short sale requests conclude with the sale of the home, and we are looking to significantly increase this percentage through our collaboration with CSC, thereby reducing the likelihood of foreclosure for borrowers in default.” “This joint effort offers servicers a sophisticated and flexible short sale processing and tracking system that will improve loss mitigation decision-making and short sale results,” said John Dickson, president of CSC’s Banking and Credit Services Division. “EarlyResolution clients gain a highly secure, integrated tool to improve the short sale fulfillment ratio and enhance multi-party communication.” EarlyResolution is a leading consumer lending default management solution offered in a SaaS environment. In use by the top three U.S. mortgage servicers, EarlyResolution assists in finding effective solutions when borrowers are in default, improves collections and loss mitigation operating efficiency, and helps servicers react quickly to regulatory and other changes.
Wingspan Portfolio Advisors and Wingspan Real Estate Network (WREN) have announced the creation of Wingspan Commander, a full-featured short sale technology and service platform for real estate professionals. Powered by Elk Software’s transaction management technology, Short Sale Commander, this new initiative empowers real estate agents, brokers and franchises with fast, professional, full-service short sale facilitation, negotiation and closing services nationwide. Wingspan’s WREN affiliate has been offering short sale facilitation to the real estate community since commencing operations in 2011. The addition of the Wingspan Commander technology provides new levels of transparency, communication and ease of use for busy real estate professionals, saving them tremendous time and effort while increasing short sale success. As part of the new collaboration with Short Sale Commander, Wingspan will also offer access to the Wingspan Certified Short Sale, a precontract review service that identifies potential obstacles earlier in the process than in ordinary short sale transactions. With its Certified Short Sale and loan servicing expertise, Wingspan is able to accelerate the short sale process up to 50 percent faster than industry averages, benefiting all parties to the transactions. “As an industry, agents and homeowners often wait for weeks and months only to find out that a short sale file has been declined by a servicer based on an issue that could have been identified and remedied earlier in the transaction,” says Chris Plummer, Wingspan Portfolio Advisors vice president and managing director of WREN. “Wingspan’s experience with servicers, investors and mortgage insurance companies allows us to identify these issues and assist the homeowner and agent in resolving them before an offer is submitted.”
Quandis and CSC Partner on Short Sale Tracking System