By KIMBERLEY HAAS
Technology is helping servicers with programs that provide systematic and automated approaches to loan due diligence, leading to partnerships that will enhance market compliance.
Third-party subservicer Cornerstone Servicing, headquartered in Englewood, Colorado, announced last month that they are using compliance technology from Bizzy Labs to perform daily exception processing on servicing portfolios. The goal is to reduce errors, provide business risk transparency, and reduce per loan servicing costs.
Bizzy Labs is an affiliate of BSI Financial Services in Irving, Texas, and their compliance technology, Libretto, uses a comprehensive library of over 1,000 business rules to identify servicing deadlines and data quality anomalies that could lead to red flags.
Toby Wells, the president of Cornerstone Servicing, and Gagan…
By KIMBERLEY HAAS
The president of Cornerstone Servicing says they are prepared for both ups and downs in 2024.
Toby Wells said in a recent interview with The Mortgage Note that although industry leaders hope for improvements after a tough year in 2023, people are worried about how much financial pressure American homeowners are under.
Inflation, the rising costs associated with ownership, as well as increases in taxes and insurance are at play.
“All of that kind of resonates in the potential for higher delinquencies and defaults leading into the latter part of ‘24. There’s concern about how to manage that,” Wells said.
Although there has been historically low foreclosure activity in recent years, lenders started the process on 22,575…
By KIMBERLEY HAAS
Female mortgage professionals are breaking barriers and making strides. As Women’s History Month is celebrated this March, The Mortgage Note asked leaders in the industry and related fields to share their advice with others.
Here’s what they said:
Be kind.
“Always be kind. This is a small pond. You never know who you will work with or for,” said Erica Giorgiantonio, senior director of field services at SingleSource Property Solutions in Canonsburg, Pennsylvania.
Have confidence.
Julia Curran, senior director of product design at SitusAMC in New York City, said, “Don’t be afraid to speak up and assert yourself in meetings and negotiations. Confidence and assertiveness are key qualities for success in our field.”
Gaining that confidence can…
