Vendor: Investors Stepping Up NPL Title Chain Scrutiny

Investors considering nonperforming loan purchases are increasingly concerned about title chains and finding related concerns that need to be cleaned up, according to a new manager at one vendor in this business.

“More and more investors that are looking into purchasing the NPL assets and when they are doing this, there are a lot of things that are coming up,” said Heather Hendrix, a marketing and sales manager at Orion Financial Group, a company that helps clear up documentation in this area.

Hendrix, a former regional wholesale sales and operations VP at Nationstar Mortgage who recently joined Orion, told this publication she is finding, “There is a learning curve some of these private investors are going through to know that the assets that they are buying, that the chains are in the proper order.”

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_525/npl-title-chain-scrutiny-1028558-1.html

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