Orion Rolls Out Onsite Servicing
Orion Financial Group said that Mission Capital Advisors has started using Orion's electronic onsite servicing offering.
Orion's EOS streamlines lien assignment and release processes, company president Mike Wileman said.
He said that Orion has customized the EOS offering to meet the needs of Mission Capital Advisors, capturing the mortgage and assignment information needed for one of its clients for the sale of block of loans. That required Orion to travel to the lender's custodian and scan documents onsite.
Mission Capital Advisors is a boutique investment banking firm specializing in the sale and management of performing, subperforming and nonperforming loan portfolios.
In a recent conversation with MSN during the recent MBA national mortgage servicing conference, Mr. Wileman said that Orion's ability to adapt its services to meet the needs of clients is one of the things that distinguishes his firm from other vendors.
"We feel like we are much better at partnering and offering customized solutions," he said.
With larger vendors, exceptions or difficult files might get sent back to the lender, he said. Orion invites clients to send them files with missing documents or other problems that need to be fixed. That way, lenders can outsource even "the dirty stuff," Mr. Wileman said.
Orion Financial specializes in lien release, assignment and document retrieval services for the mortgage industry, covering all recording offices in the U.S. The company's proprietary document management software is called DocPro! It can generate county-specific recording documents with appropriate fees.
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