DENVER, Colo., Jan 17, 2017 (SEND2PRESS NEWSWIRE) — Altavera Mortgage Services (Altavera), a leading provider of outsourced residential mortgage origination services, today announced its plans for expansion in 2017 along with highlights from the company’s last 12 months of growth.
“Altavera experienced rapid growth throughout 2016 despite the challenges of a dynamic regulatory environment,” said Altavera Founder and President Brian Simons. “We responded to the increased business volume by augmenting our staff, including our leadership team, and adding new services to address the evolving needs of our clients. We will continue to expand our SAFE Act-compliant outsourced mortgage services in 2017 by obtaining licensing in even more states.”
The Denver-based company, which celebrated its fourth anniversary in October, expanded its staff by 70% in the last 12 months. The firm was acquired by Australian financial services company Computershare Limited (Computershare, ASX: CPU) in May.
“Our closed-loan file review service has remained in high demand since its launch in Q3 of 2016,” said Debora Aydelotte, Altavera’s chief operating officer. “Overall, we’ve seen a 142% increase in volume, so post-close due diligence will continue to be an area of focus for Altavera in 2017.”
“We also expect lender interest in Altavera’s non-Qualified Mortgage fulfillment services will continue growing, fueled by the expected changes in the regulatory environment in 2017,” Aydelotte continued. “Additionally, we anticipate that strong home values will keep HELOC originations on the forefront for Altavera and our lender clients.”
Altavera plans to expand licensing to several additional states in early 2017 to meet growing demand for private-label mortgage loan fulfillment solutions. Currently licensed in 34 states, Altavera is a fully SAFE Act-compliant loan fulfillment partner offering both comprehensive and component-based fulfillment solutions, including customized non-Qualified Mortgage services. Altavera service delivery is structured to meet each client’s specific needs for loan processing, underwriting, closing and funding.
Growth milestones from Altavera’s last 12 months include:
* January 2016: Deb Aydelotte, former president of Altisource Origination Services, joins Altavera as chief operating officer.
* April 2016: Altavera reports marked uptick in requests for underwriting, processing and pre-purchase review support for non-QM loans. The company estimates non-QM inquiries represent 35% of Altavera’s client portfolio.
* May 2016: Altavera announces the Q3 2016 launch of its closed-loan file review/post-close due diligence service.
* September 2016: Altavera is named a preferred provider for Capital Markets Cooperative (CC), a nationwide alliance of mortgage bankers. Like Altavera, CMC is a member of the Computershare family of mortgage-related businesses.
* December 2016: Altavera reports a 30% increase in credit union demand for outsourced mortgage origination services in Q3 2016 compared to the previous quarter.
For more news from Altavera, visit http://altavera.com/press/.
About Altavera:
Based in Denver, Colorado, Altavera is a leading provider of outsourced residential mortgage origination services. Altavera’s SAFE Act-compliant staff of seasoned, U.S.-based specialists helps clients streamline operations, minimize costs and achieve faster cycle times for greater customer satisfaction and profitability. The firm’s service delivery is structured to meet each client’s specific needs for loan processing, underwriting, closing and funding.
For more information, visit http://altavera.com.
About Computershare Limited:
Computershare (ASX:CPU) is a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications. We also specialize in corporate trust, bankruptcy, class action and utility administration, and a range of other diversified financial and governance services.
Founded in 1978, Computershare is renowned for its expertise in high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement. Many of the world’s leading organizations use us to streamline and maximize the value of relationships with their investors, employees, creditors and customers. Computershare is represented in all major financial markets and has over 16,000 employees worldwide.
For more information, visit https://www.computershare.com.
About Computershare Loan Services (CLS):
Computershare Loan Services (CLS) is a leading international third-party mortgage servicing business, currently administering over $100 billion of assets. We continue to invest in technology and servicing enhancements globally and in mortgage servicing rights across the USA. We help mortgage lenders optimize the performance of their portfolios and support hundreds of thousands of borrowers throughout the lifecycle of every loan. Our expertise, experience and understanding of large volumes of complex financial data also help us provide insight and services to mortgage providers, investors and real estate professionals.
News Source: Altavera Mortgage Services LLC
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/altavera-to-expand-operations-following-record-demand-for-its-outsourced-mortgage-services-in-2016/
