LOANCARE IN THE NEWS
S&P Global Ratings Affirms Above Average Residential Primary Servicer Ranking for LoanCare LLC
Building on momentum from additional volume and its continued operational excellence, LoanCare LLC, a ServiceLink company, has once again received an Above Average Residential Primary Servicer Ranking from S&P Global Ratings. The outlook is stable.
Operating in four sites across the U.S., LoanCare is transforming mortgage servicing through its prime portfolio of nearly 1.8 million accounts. S&P Global cited its experienced management team, training program, servicing metrics and average customer service answer time for the favorable ranking.
“LoanCare continues to hire experienced personnel as the portfolio increases while concurrently implementing improvements to the operation affecting technology, internal controls and other areas,” S&P said in a release. “These varied developments should increase efficiencies and allow it to proactively service its customer base.”
In addition to opening a new site in Pittsburgh and a large bulk transfer in Q2 of 2019, S&P noted other positive business developments including an improved website and mobile application and enhanced self-service capabilities for customers.
“We are proud of this sustained confidence in our rating from S&P,” said Dave Worrall, President of LoanCare. “Our portfolio grew substantially over the past six months and this recognition underscores our commitment and dedication to streamlined operations to fit any client need.”
LoanCare to hire more than 200 in region
Moon Township-based LoanCare announced Monday that they planned to hire more than 200 full-time workers in the Pittsburgh region.
The hiring process will be conducted on Tuesday, Oct. 8 and Wednesday, Oct. 9 from 5 p.m. to 7:30 p.m. at the company’s Moon Township campus at 1200 Cherrington Parkway. In a press release, the company said it could hire as many as 300 workers to support its loan subservicing division. ServiceLink, which owns LoanCare, is also looking to fill dozens of client services positions within its First Mortgage and Valuations divisions.
LoanCare said the jobs will offer payment of $20 per hour plus incentives, vacation pay, full healthcare benefits and flex scheduling. Walk-ins to the hiring event are welcome, but interested candidates are encouraged to apply online at teamloancare.com.
LoanCare's Servicer Rating Affirmed By Fitch
VIRGINIA BEACH, Va., Aug. 2, 2019 /PRNewswire/ — Fitch Ratings has affirmed its U.S. RMBS Servicer Ratings for LoanCare, a ServiceLink company, demonstrating its continued excellence as a leading mortgage subservicer.
Parts of a Whole in Default Servicing
By Seth Welborn
With foreclosure volumes remaining historically low and the cost of servicing a real issue for many companies working within the mortgage sector, it’s more important than ever for servicers to maintain a focus on efficiency, innovation, and streamlining best practices. Perhaps most important of all, however, is one core pillar: communication. Without effective communication between all stakeholders within the mortgage servicing spectrum, none of those other target areas can hope to reach their full potential.
MBA National Secondary Market Conference & Expo
Date: May 20 - 23
Location: NYC, NY
Date: September 28-29
Location: San Francisco, CA