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Executive Sees Growing Demand for Interim Loan Servicing Expertise.(acquisitions manager)

Mortgage Servicing News

| December 01, 2003 | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Kevin Quinn sees interim servicing as a great opportunity for his employer, Master Financial Inc.

Mr. Quinn, the subservicing acquisitions manager for the Orange, Calif.-based company, says interim servicing - the temporary subservicing of loans prior to their sale into the secondary market - "seems to be sort of a lost niche" in the marketplace.

"Not a lot of subservicers are doing that," Mr. Quinn said. Large subservicers "don't quite want to worry" about it, while smaller ones aren't equipped to handle it, he said.

But Master Financial has found "a large audience" that is taking advantage of the company's skill in this area, Mr. Quinn said.

"It's a tremendous opportunity for us," he declared.

This year has been "great" for Master Financial so far, he said, especially considering that "we're still working hard to brand our product."

As for the change in the interest rate environment, Mr. Quinn said it is creating a new situation for servicers.

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Source: HighBeam Research, Executive Sees Growing Demand for Interim Loan Servicing...

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