Altisource Publishes White Paper Outlining Strategies to Assist FHA Servicers in Optimizing Pre-Conveyance Asset DispositionAltisource Portfolio Solutions S.A.
New approach proposes application of decision tree frameworks aligning data inputs, vendor services and integrated technology to model probable NPV outcomes and risks to drive controlled and proactive strategies
LUXEMBOURG, November 7, 2017 – Altisource Portfolio Solutions S.A. (“Altisource”) (NASDAQ: ASPS), a leading provider of real estate, mortgage and technology services, today released a white paper entitled “New Opportunities for Servicers to Optimize CWCOT Disposition Strategies.” The white paper provides servicers with a road map for an effective and efficient Claims Without Conveyance of Title (CWCOT) program strategy.
As the popularity of Federal Housing Administration (FHA) insured home loan lending expands, servicers are looking to refine their strategy for managing foreclosed homes under FHA’s CWCOT program. FHA developed the CWCOT program to help build stronger communities by preserving the condition and accelerating the sale of its real estate owned (REO) properties. To accomplish FHA’s objectives, the CWCOT program provides the servicer with two primary claim channels: sale at foreclosure auction (or shortly thereafter as a so-called “second chance” auction) and conveyance to the Department of Housing and Urban Development (HUD).
As FHA loan volumes and delinquencies continue to increase (in 2016, FHA loans accounted for over 17 percent of newly originated mortgages yet they currently comprise 34.1 percent of all over-30-day delinquent loans), servicers will need more advanced strategies to optimize the disposition of CWCOT-eligible properties and achieve the CWCOT program’s goal of building stronger communities. This white paper provides servicers with a roadmap for an effective and efficient CWCOT program strategy — one that incorporates elements of decision theory and risk modeling to simplify and streamline processes while decreasing loss severity for servicers.
Click here to download the white paper, “New Opportunities for Servicers to Optimize CWCOT Disposition Strategies.”
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing market. Additional information is available at altisource.com.
 https://portal.hud.gov/hudportal/documents/huddoc?id=FHA_SF_MarketShare_2016Q4.pdf, Single-Family Market Share Q4 2016
Altisource in the News
Jan 23, 2020
Altisource Releases Report on State of Default Servicing Industry
Altisource Portfolio Solutions releases its 2020 report, “The State of the Default Servicing Industry.”(19.0 KB)
Dec 9, 2019
Vendorly Broadens Vendor Management Methodology to Incorporate Third-Party Originators
Vendorly, an innovative vendor oversight platform for financial institutions, today announced the launch of a third-party originator (TPO)...(19.1 KB)
Oct 16, 2019
Stephen J. Kolimaga Joins Altisource as Vice President, Enterprise Sales
Altisource, a leading provider of real estate, mortgage and technology services, today announced that Stephen J. Kolimaga has been appointed Vice...(15.7 KB)
- View All