In The News

LoanCare Unveils New Servicing Division For Distressed Loans

LoanCare, LLC, a U.S. mortgage subservicer, has launched Velocity Servicing, an independently managed division dedicated to delivering one-stop resolution for credit sensitive mortgage loans by carefully managing the borrower relationship and providing  transparency into servicing performance.

Utilizing advanced data analytics, Velocity Servicing puts distressed mortgage loans on the path to resolution significantly faster than traditional servicing. By analyzing an intelligent network of triggers, exceptions, and conditions at the loan level, it achieves a consistent return on investment earlier in the process. In addition, the division works with clients on establishing portfolio goals and executing on a loan-by-loan disposition plan. Velocity Servicing can uniquely structure a solution tailored to a homeowner’s situation, helping them understand their options and make decisions at a pace that puts both the homeowner and client at ease.

“At LoanCare, we are always looking for ways to improve portfolio performance and provide the highest level of service,” said Dave Worrall, President of LoanCare. “Velocity Servicing is a major step forward in our commitment to improve asset performance through high-touch servicing while driving a higher ROI for mortgage investors.”

Velocity Servicing offers clients the talent and process rigor proven to address the unique challenges of specialty loan servicing, along with the ability to leverage the scale of LoanCare, including its best-in-class compliance processes, risk management infrastructure, and proprietary data analytics platform which monitors and predicts risk and opportunity across a portfolio. The division has invested in and developed tools specific to this strategy, such as Portfolio Arc™, a robust loss mitigation data model.

“The Velocity Servicing team has deep loss mitigation experience along with the expertise and personalized service skills necessary to turn distressed loans into performing assets,” said Matt Stadler, President of Velocity Servicing. “The partnership between Velocity and LoanCare creates a unique offering in the servicing space, delivering our partners better resolution times with significant reduction in losses. Together, we help our clients turn distressed loans into performing loans faster.”