Loss Mitigation

The Cincinnati-based law firm of Reisenfeld & Associates LPA, LLC has announced the firm’s acceptance of Angel status to the recently created Wingspan Portfolio Attorney Network (WPAN). As an part of this group, Reisenfeld & Associates will provide legal support to Wingspan Portfolio Advisors, LLC, a Dallas-based mortgage company specializing in servicing delinquent loans.

Equifax Inc., the consumer credit reporting agency based in Atlanta, Georgia, announced on Thursday the availability of a proprietary solution which the company says now provides even more comprehensive employer- and government-verified information for mortgage lending institutions.

Overland Park, Kansas-based South & Associates, P.C., a law firm specializing in foreclosure, bankruptcy, loss mitigation, eviction, and related mortgage matters throughout Missouri, Kansas, and Nebraska, recently announced that the firm has been accepted as an Eagle member of the Wingspan Professional Attorney Network.

Overland Park, Kansas-based South & Associates, P.C., a law firm specializing in foreclosure, bankruptcy, loss mitigation, eviction, and related mortgage matters throughout Missouri, Kansas, and Nebraska, recently announced that the firm has been accepted as an Eagle member of the Wingspan Professional Attorney Network.

McLean, Virginia-based mortgage financing giant Freddie Mac released statistics last week that showed in the first quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate over adjustable-rate mortgages (ARMs).

Lender Processing Services, Inc. (LPS), a Florida-based provider of mortgage technology and services, released its May 2009 LPS Mortgage Monitor on Tuesday, which provides market performance indicators based on mortgage data collected through April of this year.

Dr. Dennis Capozza, founder of Ann Arbor, Michigan-based University Financial Associates (UFA), has spent the last 30 years predicting cycles in the mortgage industry. Dr. Capozza’s research and experience have been automated in a scoring system called ForeScore for more than a decade, and last week, UFA announced that lenders, investors, and regulators can now access the ForeScore system and supporting analytics via an integrated Web services platform.

The Treasury announced new initiatives under the administration’s Making Home Affordable program late last week to provide additional options for homeowners facing foreclosure. The first of the two new program components is intended to help borrowers obtain modifications in those markets experiencing severe home price declines.

Huntington Bank and Columbus Housing Partnership have joined forces to stabilize homeownership in Central Ohio. The two have formed the Huntington Homeownership Alliance, a three-year, $10 million project that will provide the area’s residents with homeownership counseling, foreclosure avoidance services, and more affordable mortgages.

In late April, Missouri Attorney General Chris Koster launched a zero tolerance campaign against mortgage scams in his state, pledging he will aggressively investigate any suspicion of mortgage deception and use all means in the legal system to prosecute and shut them down or end their deceptive practices.