LRES, a national REO and appraisal management company offering property valuations, asset management, HOA and technology solutions for the mortgage and real estate industry, announced that it now offers a free white paper, “What Mortgage Servicers Need to Know to Prevent Liens from Destroying Investor Profits.”
Click here to download “What Mortgage Servicers Need to Know to Prevent Liens from Destroying Investor Profits”: http://info.lres.com/what-mortgage-servicers-need-to-know-to-prevent-hoa-liens-from-destroying-investor-profits
This new white paper eliminates some of the confusion over the lien position of HOA properties in relation to investors and mortgage holders, as well as provides guidance for loan servicers on how to protect the lien rights of their investors where conflicts arise between the various lienholders of a property residing in one of these communities.
One recurring challenge occurs when an HOA forecloses on a property for unpaid association fees, and the servicer then faces significant risk of increased loss and even of losing its investor’s stake in the property. Since no investor would consider this acceptable, servicers are left in need of a better method of managing the HOA lien process. This whitepaper offers an effective strategy for dealing with HOA fees and liens over the life of the loan.
“Our new white paper delivers sound advice for servicers on how to effectively manage the intricacies behind the HOA lien process,” said Roger Beane, LRES founder and CEO. “Homeowner associations are very important to the housing industry as a whole, which is why it is extremely important for servicers to have a good understanding of the risks to be mitigated and the requirements for doing so.”
About The Author
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 email@example.com.