*Do You Need Help With HARP 2.0?*
**By Tony Garritano**
***I’ve talked a lot about HARP 2.0. Why? Because it’s a real opportunity if done well. So, when I hear about technology that can help, I’m going to tell you about. Recently I was told that ServiceLink, an end-to-end origination and default solutions provider for 15 of the top 20 mortgage lenders and servicers, has expanded the availability of its HARP 2.0 solutions to lenders nationwide, including regional and smaller national lending institutions, which stand to benefit most from this enhanced government program. No new-comer to the HARP process, ServiceLink has been providing both custom and standardized programs to support HARP transactions for the nation’s leading financial institutions since the program’s inception in 2009. To date, ServiceLink has successfully completed hundreds of thousands of HARP transactions for its customers, helping borrowers stay in their homes in the process. Here’s their story:
****In keeping with the company’s customized service-based philosophy, ServiceLink provides its lender customers with a solution that effectively resolves capacity issues through the use of customized workflow processes. ServiceLink carefully aligns its processes and capabilities to effectively meet its customers’ unique business needs, enabling them to significantly reduce cycle times, while mitigating risk and optimizing the overall borrower experience. In order to facilitate each lender’s unique business needs, HARP transactions may be submitted to ServiceLink in a variety of ways, including custom systems integration, the company’s website or through leading third-party transaction platforms.
****Once a lender has identified and solicited a borrower for participation in the HARP 2.0 program and assigned the loan to ServiceLink, ServiceLink then runs the loan data through its proprietary SmartConneXion iApprove platform to make informed title workflow decisions, triggering rapid production of title commitments and “clear to close” notifications. This allows ServiceLink to measure the delivery of title commitments in minutes rather than hours or days. Additionally, over 90 percent of the loan files that ServiceLink manages through this process achieve a “clear to close” title in just two days.
****Through its Web-based closing solution, iClose, ServiceLink then works directly with borrowers to conveniently review and execute the loan documents from virtually any location at any time. Access to real-time, face-to-face video technology further enhances the borrower experience for ServiceLink’s customers. Additionally, HARP closings leverage all of the available closing solutions, including in-home signings, in-branch signings and traditional office closings.