MReport July 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH additional requested documenta- tion must be provided within two business days and the interest rate must be locked at least 15 calendar days prior to closing. "We know there are a lot of options when it comes to getting a mortgage," said Gemma Currier, SVP of National Retail Sales Operations of Guild Mortgage. "Homebuyer Protection was cre- ated so our loan officers can con- tinue to provide the exceptional service and personal relationships that have defined Guild for nearly 60 years, while offering a protec- tion program that homebuyers can't find anywhere else." Improving MSR Pricing ROUNDPOINT MORTGAGE IS PARTNERING WITH COMPASS ANALYTICS FOR API FOR CASH FLOW PREMIUMS. R oundPoint Mortgage Servicing Corporation and Compass Analytics are partnering for the industry's first API to provide cash flow based, loan-level servicing release premi- ums (SRP) co-issue bids. In another initiative to improve the accuracy of MSR pricing and duration along with extending integration further into capital markets, Compass Analytics added automated loan-level SRP co-issue bids to its library of APIs and bid automation. RoundPoint, located in Charlotte, North Carolina, will private-label Compass' API and bid-automation offerings to integrate and automate their co-issue bids and commitments to the industry. Lenders, through their internal systems, hedge advisors or LOS systems can now integrate to RoundPoint to seamlessly receive and commit live co-issue SRPs as part of their best execution processes. Sellers or their partners can employ the same workflow currently employed by the in- dustry for mini-bulk bidding and since June 10, also have the option of integrating into RoundPoint's BidStream API. "The new live SRP quoting integration is an exciting leap in automating the best execu- tion experience for the co-issue workflow," said Mike Duncan, Compass Product Manager. "It's a win for both the investor, who now has more opportunity to price more granularly and in real- time, and for the seller, who now has a simplified workflow and one that does not require managing complicated pricing grids." "By offering SRPs in real time through utilizing the Compass Analytics platform, we are able to inject more certainty into the process, thereby giving clients and prospective clients a way to secure the best price possible for their loans," said Saket Nigam, VP Capital Markets at RoundPoint. "In keeping with our corporate culture of creating innovative mortgage solutions, we are the first co-issue buyer to offer this technology. We're also excited about the future potential of this tool and applying it to other processes such as boarding loans which could create a more seamless delivery process and speed up closing and funding times." National Lender Gets STAR Recognition FREEDOM MORTGAGE WAS RECOGNIZED FOR ITS SERVICING BY FANNIE MAE FOR THE SECOND STRAIGHT YEAR. F reedom Mortgage Corpora- tion, a full-service, nonbank mortgage company that spe- cializes in VA and government-in- sured lending, has received Fannie Mae's Servicer Total Achievement and Rewards (STAR) Award for the second straight year in General Servicing and for the first year in Solution Delivery. The STAR Program is a perfor- mance management and recognition program that acknowledges compa- nies that demonstrate excellence in mortgage servicing and their ability to assist homeowners. Servicers are measured on the basis of their general servicing performance, roll rates, retention, liquidation efficiency, six-month modification perfor- mance, and timeline management compared against the performance of other Fannie Mae loans with similar credit characteristics. The New Jersey-based Freedom Mortgage is one of the 15 largest mortgage servicers in the U.S. and has grown its servicing business by more than 150% over the past two years. "We are thrilled to be recog- nized by Fannie Mae as a STAR Performer for the second con- secutive year," said Stanley C. Middleman, President Freedom Mortgage. "At Freedom, we are committed to constantly improve our business processes to create great mortgage experiences for our customers and surpass their expectations. I'm extremely proud of our entire servicing team, who deserve the credit for this recogni- tion by Fannie Mae." Home Point's New Acquisition THE MORTGAGE LENDER HAS BOUGHT THE WHOLESALE DIVISION OF PLATINUM MORTGAGE. H ome Point Financial Cor- poration, a Michigan-based national mortgage origina- tor and servicer, has announced the acquisition of the wholesale division of Platinum Mortgage Inc. This includes both Plati- num's sales team and its Madison, Alabama-based operations group. "Platinum has built a strong wholesale lending footprint focused on the customer experience. We are excited about the opportunity to integrate the Platinum team into Home Point's rapidly growing wholesale business," said Willie Newman, President and CEO of Home Point Financial. "Having been in business for over 20 years, I've always been committed to my broker clients. I decided to partner with Home Point because they share the same level of commitment." said Terry Clark, CEO of Platinum Mortgage. The Colorado-based STRATMOR Group served as exclusive advisor to Platinum on the transaction, which closed on April 15, 2019. The STAR Program is a performance management and recognition program that acknowledges companies that demonstrate excellence in mortgage servicing and their ability to assist homeowners.

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