LoanCare Unveils Innovative New Servicing Division for Distressed Loans – Velocity Servicing

LoanCare Unveils Innovative New Servicing Division for Distressed Loans – Velocity Servicing

New Division offers “Special Servicing at Scale,” Helping Reduce Financial Losses, and Maximizing Return on Investments

VIRGINIA BEACH, Va., March 16, 2023 /PRNewswire/ — LoanCare, LLC, a top U.S. mortgage subservicer, today announced the launch of Velocity Servicing, an independently managed division dedicated to delivering one-stop resolution for credit sensitive mortgage loans by carefully managing the borrower relationship and providing  transparency into servicing performance.

Utilizing advanced data analytics, Velocity Servicing puts distressed mortgage loans on the path to resolution significantly faster than traditional servicing. By analyzing an intelligent network of triggers, exceptions, and conditions at the loan level, it achieves a consistent return on investment earlier in the process. In addition, the division works with clients on establishing portfolio goals and executing on a loan-by-loan disposition plan. Velocity Servicing can uniquely structure a solution tailored to a homeowner’s situation, helping them understand their options and make decisions at a pace that puts both the homeowner and client at ease.

“At LoanCare, we are always looking for ways to improve portfolio performance and provide the highest level of service,” said Dave Worrall, President of LoanCare. “Velocity Servicing is a major step forward in our commitment to improve asset performance through high-touch servicing while driving a higher ROI for mortgage investors.”

Velocity Servicing offers clients the talent and process rigor proven to address the unique challenges of specialty loan servicing, along with the ability to leverage the scale of LoanCare, including its best-in-class compliance processes, risk management infrastructure, and proprietary data analytics platform which monitors and predicts risk and opportunity across a portfolio. The division has invested in and developed tools specific to this strategy, such as Portfolio Arc, a robust loss mitigation data model.

“The Velocity Servicing team has deep loss mitigation experience along with the expertise and personalized service skills necessary to turn distressed loans into performing assets,” said Matt Stadler, President of Velocity Servicing. “The partnership between Velocity and LoanCare creates a unique offering in the servicing space, delivering our partners better resolution times with significant reduction in losses. Together, we help our clients turn distressed loans into performing loans faster.”

For more information about Velocity Servicing, visit velocity.loancare.com.

About LoanCare
LoanCare is a top national provider of full service, component, and interim mortgage loan subservicing. The company is known for delivering a superior customer experience through personalization and convenience. Its proprietary portfolio management platform, LoanCare Analytics, identifies risk and opportunity quickly to enable smarter decisioning across the servicing spectrum. For over 30 years, LoanCare has been servicing loans for banks, credit unions, independent mortgage companies and portfolio investors. LoanCare is part of Fidelity National Financial (NYSE: FNF), a Fortune 500 company and leading provider of title insurance and transaction services to the real estate and mortgage industries. For more information, visit www.loancare.com. 

SOURCE LoanCare

Originally published at https://www.prnewswire.com/news-releases/loancare-unveils-innovative-new-servicing-division-for-distressed-loans–velocity-servicing-301774125.html

business banners

Latest posts

Discovery of The Newest Way Malicious Competitors Can Steal Businesses’ Local SEO

Newest Way Malicious Competitors Can Steal Your Local SEO Malicious competitors can use Google Business Profile to steal SEO by suggesting...

Kensington Vanguard Expands to Chicago

NEW YORK, May 7, 2024 /PRNewswire/ -- Kensington Vanguard National Land Services ("KV"), one of the largest independent, full-service national title insurance agencies in...

Hawaii’s Savannah Gankiewicz Named Miss USA 2023 Savannah will be Crowned in a Ceremony on Wednesday, May 15 in Hawaii

The Miss USA Organization is thrilled to announce that Miss Hawaii USA Savannah Gankiewicz is Miss USA 2023. I pledge my...

Florida Sets New Visitation Record in Third Quarter

TALLAHASSEE, Fla. — Today, Governor Ron DeSantis announced that visitation to Florida continues to rise, setting a record for the number of visitors to...

Marijuana’s Reclassification Affect On Hemp Industry

How will the Reclassification of Marijuana affect the hemp industry? Leafy8 Logo With the reclassification of marijuana, Leafy8 discusses the possible implications...

Arizona’s Monte Vista Village Resort Named the West’s Land-Lease Community of the Year by the Manufactured Housing Institute

MESA, Ariz., May 7, 2024 /PRNewswire/ -- The Manufactured Housing Institute (MHI) has named Monte Vista Village Resort as the West's 2024 Land-Lease Community...

Celebrating Moms By Launching Sweet Reward Three Days to Party Away from Kids

Love to Celebrate Women's Month with The Sweetest Tennis Weekend Participate in Recruiting for Good Causes help fund social projects;...
celebrity reality tv