Primary servicer

Westlake Portfolio Management Services Over $300M In New Portfolios In 2020 and Plans to Expand into Different Markets in the New Year

Tuesday, February 23, 2021 - 6:29pm

Westlake Portfolio Management, a subsidiary of Westlake Technology Holdings (Westlake), sees incredible growth in 2020, servicing over $300M in new portfolios.

Key Points: 
  • Westlake Portfolio Management, a subsidiary of Westlake Technology Holdings (Westlake), sees incredible growth in 2020, servicing over $300M in new portfolios.
  • This success is partly attributed to the collaboration between Westlake Portfolio Management and Agora Data.
  • The result of this collaboration is that Westlake Portfolio Management has become the primary servicer for Agora Capital and Agora Trade.
  • In addition to this collaboration, Westlake Portfolio Management became the primary servicer for the first ever crowd-sourced securitization, which closed in December 2020.

Gantry Delivers $3.0 Billion in New U.S. Commercial Mortgage Placements in 2020

Monday, January 18, 2021 - 3:01pm

Gantry, the largest independent commercial mortgage banking firm in the U.S., today announced it has completed $3.0 billion of commercial mortgages during 2020 across a company record 411 transactions.

Key Points: 
  • Gantry, the largest independent commercial mortgage banking firm in the U.S., today announced it has completed $3.0 billion of commercial mortgages during 2020 across a company record 411 transactions.
  • Additionally, the fourth quarter of 2020 saw $1.0 billion of new loans over 124 transactions, representing the strongest production quarter in company history.
  • Gantry, a long-rated Primary Servicer by Standard & Poors, further reported that its nearly $17.0 billion portfolio of internally serviced commercial mortgage loans is performing at 99.8% of expectations.
  • Notable trends in relevant Gantry verticals include:
    Gantrys production total of $3.0 billion for 2020 represents 411 unique transactions across all property types.

S&P Ranks BSI Financial Services as a Residential Primary Servicer

Tuesday, December 15, 2020 - 2:00pm

IRVING, Texas, Dec. 15, 2020 /PRNewswire/ -- BSI Financial Services , a mortgage-centric financial services company, announced that S&P Global Ratings has affirmed the company's Average ranking as a residential primary servicer and added the company onto its Select Servicer List.

Key Points: 
  • IRVING, Texas, Dec. 15, 2020 /PRNewswire/ -- BSI Financial Services , a mortgage-centric financial services company, announced that S&P Global Ratings has affirmed the company's Average ranking as a residential primary servicer and added the company onto its Select Servicer List.
  • "We have stepped up our technology efforts to produce the highlights cited by Standard & Poor's in their determination," said Gagan Sharma, BSI Financial president and CEO.
  • Led by a seasoned team of financial industry professionals, BSI Financial Services provides mortgage servicing and special servicing, loan quality control, REO and asset management services, and life-of-loan performance reporting using advanced data analytics tools.
  • Leveraging a 30-year performance track record, BSI Financial offers clients customized solutions using proprietary digital technology such as BSI ASSET360, an advanced form of RegTech.

BSI Financial Services Residential Mortgage Servicing Ratings Upgraded by Fitch Ratings

Monday, January 20, 2020 - 10:00am

IRVING, Texas, Jan. 20, 2020 /PRNewswire-PRWeb/ --Fitch Ratings has announced that it has upgraded BSI Financial Services' U.S. residential primary servicer rating for Prime Product to RPS3 and its U.S. residential special servicer rating to RSS3, citing the firm's experienced management team, risk control environment and integrated servicing technology.

Key Points: 
  • IRVING, Texas, Jan. 20, 2020 /PRNewswire-PRWeb/ --Fitch Ratings has announced that it has upgraded BSI Financial Services' U.S. residential primary servicer rating for Prime Product to RPS3 and its U.S. residential special servicer rating to RSS3, citing the firm's experienced management team, risk control environment and integrated servicing technology.
  • BSI has added several high-profile business leaders with experience in servicing, compliance, technology and sales to its management team.
  • In 2017 BSI initiated a Data Integrity Program that each day scores every loan in BSI Financial's servicing portfolio for data anomalies.
  • Led by a seasoned team of financial industry professionals, BSI Financial Services provides mortgage servicing and special servicing, loan quality control, REO and asset management services, and life-of-loan performance reporting using advanced data analytics tools.

S&P Global Ratings Affirms Above Average Residential Primary Servicer Ranking for LoanCare LLC

Wednesday, November 13, 2019 - 5:45pm

VIRGINIA BEACH, Va., Nov. 13, 2019 /PRNewswire-PRWeb/ --Building on momentum from additional volume and its continued operational excellence, LoanCare LLC, a ServiceLink company, has once again received an Above Average Residential Primary Servicer Ranking from S&P Global Ratings.

Key Points: 
  • VIRGINIA BEACH, Va., Nov. 13, 2019 /PRNewswire-PRWeb/ --Building on momentum from additional volume and its continued operational excellence, LoanCare LLC, a ServiceLink company, has once again received an Above Average Residential Primary Servicer Ranking from S&P Global Ratings.
  • Operating in four sites across the U.S., LoanCare is transforming mortgage servicing through its prime portfolio of nearly 1.8 million accounts.
  • S&P Global cited its experienced management team, training program, servicing metrics and average customer service answer time for the favorable ranking.
  • "We are proud of this sustained confidence in our rating from S&P," said Dave Worrall, President of LoanCare.

LoanCare's Servicer Rating Affirmed Again by Fitch Ratings

Friday, August 2, 2019 - 6:15pm

VIRGINIA BEACH, Va., Aug. 2, 2019 /PRNewswire-PRWeb/ --Fitch Ratings has affirmed its U.S. RMBS Servicer Ratings for LoanCare, a ServiceLink company, demonstrating its continued excellence as a leading mortgage subservicer.

Key Points: 
  • VIRGINIA BEACH, Va., Aug. 2, 2019 /PRNewswire-PRWeb/ --Fitch Ratings has affirmed its U.S. RMBS Servicer Ratings for LoanCare, a ServiceLink company, demonstrating its continued excellence as a leading mortgage subservicer.
  • For the second consecutive year, LoanCare has received 'RPS2' ratings in the primary servicer and specialty subservicer categories, both with a stable outlook.
  • These favorable rankings, according to Fitch, reflect continued systems and facility upgrades, strengthened enterprise risk management control, upgrades to customer self-service functions and effectively managed growth.
  • "We are proud to receive such high marks from Fitch," said Dave Worrall, President of LoanCare.

Ditech Holding Corporation Signs Purchase Agreements with New Residential Investment Corp. and Mortgage Assets Management, LLC

Tuesday, June 18, 2019 - 11:30am

Mortgage Assets will acquire the stock and assets of the Company's reverse mortgage business, Reverse Mortgage Solutions, Inc.

Key Points: 
  • Mortgage Assets will acquire the stock and assets of the Company's reverse mortgage business, Reverse Mortgage Solutions, Inc.
  • Under the terms of each of the agreements, New Residential and Mortgage Assets will serve as proposed "stalking horse bidders" in court-supervised sale processes.
  • If other qualified bids are submitted, the Company will conduct an auction or auctions with the agreements with New Residential and Mortgage Assets setting the floor for the auction processes.
  • Ditech Holding is an independent servicer and originator of mortgage loans and servicer of reverse mortgage loans.