MortgageFlex Receives Innovations 2011 Award
18.05.12
MortgageFlex Systems has received the prestigious Innovations 2011 Award from the PROGRESS in Lending Association!
Jacksonville, FL (PRWEB) April 28, 2012
MortgageFlex Systems, Inc., an established provider of mortgage loan origination and servicing technology, is proud to announce that they have been recognized by the PROGRESS in Lending Association as one of the Innovations 2011 winners. The recognition was awarded at the start of the Mortgage Bankers Association Technology Conference in Phoenix, Arizona.
PROGRESS in Lending looked for the innovation’s overall industry significance, the originality of the innovation, the positive change the innovation made possible, the intangible efficiencies gained as a result of the innovation, and the hard cost and timesavings that the innovation enables industry participants to achieve.
Recognizing that the lending industry would never be the same after the last industry down time and lenders would need smarter and more efficient solutions, MortgageFlex developed an offering that is not just new technology but a new solutions approach. One that addresses everything a lender needs to respond quickly and easily to the ever-changing rules and regulations and the demands of tech savvy borrowers while continuing to increase revenue. Traditionally, technology vendors simply upgrade to the latest platform (DOS > Windows > .NET) and tout the advantages. While the latest advantages are numerous, there still needed to be a support solution paradigm shift to accommodate the lending transformation that has occurred. Just upgrading technology is not enough to be successful anymore; lenders need flexible pricing options, secure hosting choices and experienced resources. In short, they need a strong partner with new answers. To meet these needs, MortgageFlex redesigned not only the LoanQuest product offering but looked internally and reevaluated their resources and processes.
Source: Virtual-Strategy Magazine
March foreclosure activity down to near 5-year low
18.05.12
More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year.
The number of homes that received first-time foreclosure notices rose 7 percent in March from the previous month, foreclosure listing firm RealtyTrac Inc. said Thursday.
That marks the third consecutive monthly increase this year and reflects stepped-up efforts by banks to take action against homeowners who fail to keep up with mortgage payments.
"We're not out of the woods yet with foreclosures," said Daren Blomquist, a vice president at RealtyTrac. "There are more batches of foreclosures coming through the pipeline."
Foreclosure activity, as measured by the number of homes receiving foreclosure-related notices, slowed sharply in the fall of 2010 when claims surfaced that some banks and mortgage servicers were processing foreclosures without verifying documents.
A $25 billion settlement reached in February between the nation's biggest mortgage lenders and state officials has paved the way for banks to take action on unpaid mortgages, many of which have been in a procedural limbo for months or years. And it's those homes that could ultimately be foreclosed-upon and end up back on the market.
Source: Fox News