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Information for Single-Family Lending and Real Estate Professionals
 
Program Announcement

August 19, 2016
Additional Master Servicer – Welcome Lakeview Loan Servicing

Dear Lending Partners,

The Commission conducted an RFP to add an additional master servicer in April 2016. Interviews were held in May and a new second servicer was approved by the Commission at the end of May. Since that time, the Commission has been in constant contract negotiations. Although the negotiations are not 100% complete, I am pleased to announce Lakeview Loan Servicing has been selected to compliment the efforts of ServiSolutions.

The pipeline of loans will be divided as follows:

ServiSolutions will continue to purchase all House Key Opportunity Loans and Fannie Mae Conventional Home Advantage loans.

Lakeview Loan Servicing will purchase all Ginnie Mae Home Advantage (FHA, VA, USDA) loans.

Once our contract negotiations are completed, the Commission will announce a start date for new reservations going to Lakeview. Updated manuals, forms, and training opportunities will also be forthcoming.

Many of our participating lenders are already approved with Lakeview Loan Servicing. Commission participating lenders not currently LLS approved are encouraged to immediately start the process by contacting Lakeview Loan Servicing’s Counterparty Risk Management at CRM@lakeviewloanservicing.com.

All lenders will be required to sign a new Mortgage Origination Agreement with the Commission and Lakeview Loan Servicing. Once these documents are completed, they will be posted to the Commission’s Website and corporate offices will be notified.

I would like to personally thank Mike King and the wonderful staff at ServiSolutions for their efforts as the Commission’s master loan servicer since December 15, 2011. ServiSolutions maintains a dedicated staff who have worked diligently in support of our programs. As a result, the Commission’s programs supporting low and moderate income homebuyers have experienced success beyond anyone’s expectations.

If you have follow up questions, please feel free to contact Corinna Obar at corinna.obar@wshfc.org or 206-287-4414 or me at lisa.debrock@wshfc.org or 206-287-4461.

Thank you for your patience and your partnership!

Lisa DeBrock
Homeownership Director

        

 
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