Another Big Technology Partnership

*Another Big Technology Partnership*
**By Tony Garritano**

TonyG***In yesterday’s newsletter I talked about a partnership between Carrington and Equator. Today, I’ve heard of another noteworthy pairing. ServiceLink has partnered 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.”

****Stacey Bayley, Senior Vice President, Asset Management with ServiceLink, said, “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.

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.