Business Challenge
As a mortgage servicer, we’re forced into reactive mode for all of our loan servicing, change and maintenance requests. We’re lucky if we find out about a change of status on a property in which we share collateralized ownership with another financial service institution. If we could know about potential defaults or status changes in advance, we could proactively seek ways to mitigate losses and reduce risks.
Solution: Automated Lien Monitoring for Mortgage Servicers
CoreLogic is the leading provider in lien monitoring service for mortgage service institutions throughout the U.S. We can provide customized reports on the lien status of any real estate in which your bank or mortgage lending institution has a vested interest. Through our service, we’ll notify you which properties have had an event that could increase the likelihood of default risk; an expected change in lien subordination, or give your company feedback on critical changes in a household’s lien status. Your bank will quickly learn why our lien monitoring service is a critical component to managing a well run mortgage servicing portfolio.
Lien Monitoring Product Highlights
Through our lien monitoring service, you can be notified of things such as:
- Notice of default on a lien upon which your bank shares the collateral with another unknown lending institution
- A new second mortgage being originated behind your first mortgage
- A refinance on a mortgage that may affect your lien position, or possibly require lien subordination
- Notification of a property that has been sold or transferred
- Future recorded liens
CoreLogic is a leader in mortgage servicing analytic solutions. To learn more about CoreLogic's lien monitoring service or any of our other mortgage servicing analytic solutions, contact us today.