March 4th, 2010
MORTGAGE TECHNOLOGY - March 4th, 2010
By Anthony Garritano
At the Mortgage Bankers Association National Servicing Conference and Expo here, attendees were very interested in how short sales can be more automated and technology vendors were ready to deliver solutions. The same way they were ready to automate loan mods last year. However, 54% of respondents say industry recovery will take more then short sales and loan mods.
“Our nation is in the midst of a distressed property crisis affecting millions of Americans, and we must act swiftly and creatively to either help keep people in their homes or support a homeownership exit outside the foreclosure process,” said Joe Filoseta, president and CEO of DepotPoint. “It will take integrated teamwork and relationships like the one we have forged with AssetPlanUSA to have a real impact on this crisis. AssetPlanUSA’s management team has extraordinary experience with short sales and working with troubled borrowers to find alternatives to foreclosure. We look forward to working together.” Read More–>
March 4th, 2010
HOUSINGWIRE - March 4th, 2010
By Jon Prior
Joe Filoseta is the CEO of Washington-based DepotPoint, which provides technology to automate distressed property sales.
Before joining DepotPoint, Joe served as executive vice president and general manager of the Mortgage Solutions Group of Harland Financial Solutions. Today, he sat down with HousingWire to go over the promise and pain of short sales Read More >
February 23rd, 2010
SERVICING MANAGEMENT - February 2010
By Joe Filoseta
Perhaps the biggest source of waste in default management is the amount of time spent chasing, collecting and passing along paper documents.
Suppose for a moment that Henry Ford had to deliver 100 automobiles - all different models and with different features - in one month, yet 90% of his workforce had never picked up a wrench. Sounds ridiculous, right?
Yet a similar scenario is taking place in today’s distressed-property market, where a massive amount of loss mitigation tasks, short sales and real estate owned properties (REOs) are being handled by a mostly inexperienced workforce, with no single file being the same. But for mortgage servicers and investors, the biggest problem is not their workers’ lack of experience. Rather, it is the lack of workflow management.
Read more >
