The rating validates LoanCare’s comprehensive understanding of the complexities involved in servicing home equity lines of credit (HELOC). Due to the added requirements in second lien operations, knowing what’s required for statements, ensuring interest calculations are accurate, and managing onboarding setup is critical. For customers, it’s about educating them on the options and then providing the support tools they need to successfully manage the various scenarios. For clients, it’s about maximizing the return on their investment in HELOCs. From robust lien, credit and equity monitoring to vigorous fraud and regulatory controls that are best managed by a team of HELOC specialists, LoanCare delivers consistently outstanding service.

“LoanCare has consistently invested in technology and training to enable superior customer service and seamless, compliant HELOC management. Flexible draw, variable rates, promotional rates – our mortgage servicing platform (MSP) handles it all,” said Dave Worrall, President of LoanCare. “In today’s high interest rate environment, lenders are looking for quality, compliant and cost effective servicing support for home equity lines of credit, second liens, and construction loans. We have the technology, processes, and people in place to support these products and more.”

Fitch Ratings is a prominent rating agency that evaluates the viability of investments concerning the probability of default. Its residential mortgage servicing oversight and ratings are based on a variety of factors such as a company’s management, financial conditions, corporate governance, loan administration, defaulted and nonperforming loan management, and technology.

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The post LoanCare® Secures Fitch Rating for Second Lien Products first appeared on FinTecBuzz.