ServiceLink Partners with Home CORE to Meet the Housing Needs of Millions of Low-to-Moderate Income American Families
PITTSBURGH, Feb. 19, 2013 /PRNewswire/ -- ServiceLink, a leading end-to-end origination, servicing and default solutions provider for the top mortgage lenders and servicers, today announced its partnership with Home CORE, a national network of non-profit service organizations dedicated to providing homeownership opportunities to millions of low-to-moderate income families through down payment assistant programs and the purchase and rehabilitation of foreclosed and condemned properties nationwide.
In addition to traditional lenders and servicing companies, ServiceLink works closely with private equity groups, investment trusts, and large non-profit organizations like those affiliated with Home CORE to successfully convert their pools of real estate owned (REO) properties into lease, rental or purchase properties. Through its partnership with Home CORE, ServiceLink will help increase affordable home ownership opportunities by managing all of the activities needed to transition these properties into move-in condition, including assisting with due diligence, coordinating and over-seeing rehabilitation and repairs, providing title and closing services and supporting the loan origination process through borrower counseling.
"Traditionally, non-profit housing programs have a tough time gaining access to affordable housing, which is why the work that we are doing at Home CORE is so important," said Home CORE National Program Director, Rita Sullins. "By combining the assets and resources of more than 20 leading non-profit organizations, we have the scale to significantly impact housing needs across the country. With that, however, come greater operational challenges in managing this large number of properties spread nationwide. ServiceLink's end-to-end capabilities make them the perfect partner to support our mission."
ServiceLink provides innovative products, services and technology solutions that help mortgage lenders and servicers mitigate risk, reduce cycle times, lower operating costs and ultimately drive maximum performance through every stage of the loan.
"We are proud of our association with Home CORE and excited about the opportunity to work with such a great organization to help so many families and communities across the country," said Stacey Bayley, Senior Vice President, Asset Management with ServiceLink. "I believe that by partnering with Home CORE to transform large pools of REO properties into viable homes for America's low-to-moderate income families, we will have a meaningful positive impact on both our nation's housing market and economic recovery."
Under the guidance of Home CORE and C.S.A.R. Inc., Save a Child Housing Authority, a Denver based nonprofit with a 55-year history of serving families in Colorado communities, became one of the first organizations to be approved and close with one of the national GSE's investor bulk asset pools in 2012.
"HomeCore's mission is to help struggling families become homeowners through the empowerment of non-profit organizations. By teaming up with outstanding companies such as ServiceLink, we are now able to facilitate this process in a seamless and more efficient manner," said C.S.A.R., Inc. Chief Counsel and Home CORE Consultant Orlan Johnson. "This is a herculean effort that will require strategic partnerships from several key private and governmental organizations. ServiceLink has stepped up to the plate and we are truly honored to have a strategic alliance with one of the industry's finest."
ServiceLink, a Fidelity National Financial (NYSE: FNF) company, is a leading provider of end-to-end origination and default related products, services and technology for the mortgage industry. ServiceLink currently serves 15 of the top 20 national lenders and servicers, helping them drive maximum performance throughout the life of the loan. ServiceLink combines its unrivaled Serve First culture and industry experience with innovative products and technology along with the resources of FNF to help our client partners mitigate risk, reduce cycle times and lower operating costs. For more information about ServiceLink, visit www.servicelinkfnf.com.
About Home CORE
A C.S.A.R., Inc. Program Affiliate & Natl Assn with Leading Non-Profit 501c3 Organizations, Home CORE (Community-Organization-Reinvestment-Education) provides national economic and social impact associated with leading nonprofit organizations and housing authorities in affiliation with Community Restoration and Stabilization programs. Expertise through community development partnerships with top industry professionals benefit communities and families; expanding financial literacy, rehabilitation of distressed homes, home ownership education, short sale assistance and home purchase opportunities. These initiatives restore our economy, rebuilding our communities, with a focus on low-to-moderate income American families.
Home CORE and affiliates create a positive impact through unique housing initiatives, serving to assist and support Veterans Administration, ADA and low to moderate income housing initiatives. A "Strategy meets Opportunity" approach through national financial, governmental organizational foundations and top servicers addresses market challenges from Wall Street to Main Street. For more information about Home CORE and C.S.A.R., visit www.homecoreusa.net and www.csarus.com.