ServiceLink, the national mortgage services platform of Fidelity National Financial, has made available settlement services for all loan modification types, including rate resets, payment recasts and complex loan term adjustments. These solutions allow lenders and servicers to streamline their processes, the company says.
The ServiceLink loan modification solutions include title, valuation, closing services, and mortgage modification guarantees (MMGs). The MMG provides assurance for eligible loans that, when terms of an existing mortgage are modified, the modification instrument does not affect the validity, priority or enforceability of the existing lien. The MMG eliminates the need for the modifying lender to track down the previous insurer to request modification endorsements.
The solutions ‘help our clients meet a quickly evolving mortgage financing landscape,’ says Kevin Gugenheim, executive vice president of ServiceLink. ‘We have a very capable staff and seasoned management team that's working closely with our customers to define effective loan modification processes in a fluid environment.’