Phoenix Capital to offer complete mortgage loan servicing transfer assistance utilizing Stewart Lender Services
HOUSTON (Sept. 19, 2007) – Phoenix Capital, Inc., a premier provider of mortgage loan servicing brokerage and advisory services, is now a single-source provider of fulfillment to buyers and sellers of mortgage loan servicing portfolios, via products and services of Stewart Lender Services, Inc. “Sellers can now rely on one entity for all their portfolio sale requirements,” said Michael Lau, executive vice president of Phoenix Capital, Inc. “This spectrum of services will ensure support from the valuation and marketing of the portfolio to the consultation, negotiation and execution of the Purchase and Sale Agreement.”
Complete fulfillment of the transaction is supported by Stewart with services including the pulling, imaging, labeling, bar coding, packaging and shipment of loan files; reorganization of the files to meet the buyer’s requirements; document inventory and subsequent retrieval of missing documents; assignments and/or MERS® registrations; and curative solutions for deficient documents.
Files are shipped to the buyer, supported by file-recreation insurance to cover any losses that may occur in transit. With these services, buyers can be assured that the loan package will be delivered to them safely with accurate data and complete collateral files. This eliminates the need to expend additional resources to obtain critical documents and/or mine for supplemental data.
“Generally, anything that is included in the transfer instructions as a responsibility for either the buyer or the seller can be accomplished through Stewart’s fulfillment services,” said John Bordon, senior vice president, Stewart Lender Services. “Transactions can be completed in a more-timely manner through this alliance. That equates to lower overall costs and the return of holdback funds in a more expeditious manner.
“Having one source to go to for a complete offering of services allows sellers that may not have extensive mortgage loan servicing sale experience or personnel to execute the transaction an outlet to realize the benefits of a mortgage loan servicing sale,” he added.
About Phoenix Capital, Inc.
Phoenix Capital, Inc. (“PCI”) is a brokerage and consulting firm focused exclusively on the mortgage banking industry. PCI’s seasoned team offers an unmatched understanding of the servicing market, providing its clients innovative solutions related to the development and execution of servicing asset management strategies. PCI has participated in the sale and transfer of hundreds of servicing portfolios totaling nearly half a trillion dollars, and have been retained to conduct buyer representation analysis on a wide variety of servicing transactions, evaluating well over $1 trillion in mortgage servicing assets. We offer broad transactional expertise, comprehensive and customized analytic capabilities, and innovative servicing asset management strategies, all designed with one goal in mind: optimal execution regardless of market condition. For more information please visit www.phnxcap.com/ or call a Phoenix Capital representative at 303.892.7070.
About Stewart Lender Services, Inc.
Stewart Lender Services, Inc. (SLS) (www.stewartlenderservices.com/) is a leading provider of mortgage information and services that accelerate loan origination process and reduce the costs associated with post closing and loan servicing functions. SLS enhances the efficiency and profitability of the loan origination process through the delivery of information and services required for settlement using e-commerce. These suite of products and services include: credit, valuation products, nationwide title and settlement services, flood determinations, electronic mortgage documentation solutions, and background checks. As a leading outsource services company, lenders utilize SLS’ national imaging, post closing, loan servicing and investor delivery services to optimize critical back office operations, perfect collateral and convert their normal fixed overhead costs into variable expenses. SLS’ post closing solutions are built upon a robust imaging and data transfer utility that is customized to specific client requirements.
Stewart Lender Services is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-oriented, technology-driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com/.