ServiceLink to Announce Availability of Proprietary HOA Management Services at MBA's National Mortgage Servicing Conference &...

PITTSBURGH, Feb. 15, 2012 /PRNewswire/ -- ServiceLink, a leading end-to-end origination and default solutions provider for 15 of the top 20 mortgage lenders and servicers, will announce the official availability of HOA Resolve, its proprietary system dedicated to home owners association (HOA) management, at the upcoming MBA National Mortgage Servicing Conference & Expo, Feb. 21-24 in Orlando. To schedule a demonstration or get more information about HOA Resolve, please visit ServiceLink at booth #501.

ServiceLink has years of proven, dedicated experience in HOA management and that level of knowledge and first-hand experience is reflected in HOA Resolve. The solution effectively prevents closing delays and mitigates lenders' and servicers' risk of overpayment by quickly identifying HOAs through direct access to information from Fidelity National Financial's network of more than 5,000 local title agents and working with them to bring any outstanding fees current. This is accomplished through ServiceLink's review of existing mortgage or title documents and verification against an internal database, as well as other drivers. ServiceLink then contacts the HOA regarding the status of the account to confirm all charges are within legally required limits and, if possible, negotiates the terms to reduce its client's financial exposure.  Once finalized, ServiceLink handles payments and processing to ensure there are no outstanding HOA title curative issues when the property goes under contract.

The issue of HOA fees is a significant one for lenders in today's market. When a financial institution takes possession of a property through foreclosure or through a bulk sale, for example, it may also assume the responsibility for any outstanding HOA fees or penalties tied to that property.  ServiceLink's HOA Resolve helps lenders by coordinating all open accounts associated with a foreclosure and ensuring that they are closed upon finalization of the transaction. In doing so, ServiceLink is saving its lender customers, on average, more than $3,100 per foreclosure.

"Lenders understand and expect to fulfill HOA obligations tied to their portfolio properties and in working closely with HOAs and their attorneys, we help ensure that those obligations are met and that the fees and dues are not above and beyond what is supported by the legal statute," said Stacey Bayley, SVP, Asset Management and Disposition for ServiceLink. "Through HOA Resolve, our lender customers are better positioned to quickly identify properties with HOA commitments and determine the correct settlement amount prior to closing."

About ServiceLink

ServiceLink, a Fidelity National Financial (NYSE:FNF) company, is a leading provider of end-to-end origination and default related products, services and technology for the mortgage industry.  ServiceLink currently serves 15 of the top 20 national lenders and servicers, helping them drive maximum performance throughout the life of the loan.  ServiceLink combines its unrivaled Serve First culture and industry experience with innovative products and technology along with the resources of FNF to help our client partners mitigate risk, reduce cycle times and lower operating costs.  For more information about ServiceLink, visit www.servicelinkfnf.com.

SOURCE ServiceLink

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