Survey Finds Most Americans Unaware of HAMP or HARP
Read the Article and call us for a demo of ActioNsight. We can tell you which loans are eligible.
Even though more than 20 percent of the nation's mortgages are underwater, with the borrower owing more than the value of the home is worth, more than seven in 10 respondents in a recent FreeScore.com survey said they were not aware of government mortgage modification programs designed to help such borrowers. CoreLogic studies have found that 22.1 percent of homeowners owe more than their property is worth.
As a result of this continuing problem, the government designed a pair of programs, the Home Affordability Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), to aid these borrowers. Yet 62.2 percent of the 300 FreeScore.com survey respondents said they were unaware of the programs. More troubling, 72 percent of survey respondents said they have not heard of either the HAMP or HARP programs.
Loan Servicers Plagued by Fraud
Interthinx revealed in its latest Mortgage Fraud Risk Report that occupancy and employment fraud, along with other characteristics, continue to be major problems nationwide for loan servicers, particularly for higher-risk geographies.**National Mortgage News, June 6, 2011
Investors are increasingly looking at both the origination of new loans and the servicing practices of the book of business for high-risk loans. ActioNsight can help you monitor your portfolio for troubled assets to identify actionable changes before default.What We Do
MasterServ Financial offers a portfolio analysis and risk management tool, known as ActioNsight, that leverages leading indicators to provide mortgage lenders, servicers and compliance officers with rapid and actionable insight into troubled assets.
Why MasterServ Financial
ActioNsight is built on decades of mortgage lending and financial services industry experience, including:
- Management of multi-million dollar portfolios
- Software design and development of numerous grants, loans and risk analysis and mitigation systems
- Technology integration of SOX- and GLB-compliant systems
- Leadership development through years of experience within Big 4 management consulting firms
Who uses ActioNsight
ActioNsight is a portfolio analysis and management solution for professionals in financial services and Government-sponsored Enterprises.
- Mortgage lenders - Review each asset during underwriting for changes in risk
- Compliance officers - Flag troubled loans PRIOR to regulatory action
- Servicers - Maintain timely insights into asset performance and lender status to improving loan servicing