November 22, 2017
Greenville, SC (November 22, 2017) — The Romans built their first “superhighway”—the 350-mile-long Appian Way—during the third century BC. To help travelers measure their progress, the road-builders set up the world’s first milestones: large, engraved stone pillars placed alongside the roadway at regular intervals.
Since then, the use of milestones and other distance markers has spread around the world; and the concept of achieving a milestone has become a metaphor for noteworthy accomplishment—such as when Shellpoint Mortgage Servicing (SMS) found itself managing a residential mortgage portfolio of more than 200,000 loans earlier this year.
“Growing our servicing portfolio to more than 200,000 loans is a significant accomplishment,” said SMS’ EVP Michael Keaton, “and we’re very thankful to have achieved it.”
“Back in 2010,” Keaton recalled, “this business serviced only about 30,000 loans. Since then, our commitment to excellent service and operational efficiency has enabled us to grow our business, remain profitable, and create jobs for nearly 900 associates in South Carolina and Texas. Currently, with a portfolio of more than 212,000 loans representing nearly $51 billon in unpaid principal balance, there are only about 14 non-bank mortgage servicers in the country that are larger than SMS.”
Keaton is eager to credit SMS employees with the company’s outstanding success.
“Our dozens of excellent client/investors provide us with loans and revenue,” he said, “and our dedicated management team uses a proven earned-growth review process to ensure our staffing stays in sync with our portfolio’s needs. But most importantly, we have outstanding associates who are committed to providing exceptional service to the homeowners whose mortgages we manage—and it’s the hard work, dedication, and support of our associates that make our corporate achievements possible. For example, our staff recently developed and introduced an innovative set of web-based self-service tools that make it easier and more convenient for delinquent homeowners to apply for and move through the loan-modification process.
“Especially during the holiday season,” observed Keaton, “we’re thankful for the growth we’ve enjoyed—and we look forward to achieving other milestones in the months and years to come.”
Shellpoint is one of the largest non-bank servicers with over 1.7 million residential mortgage loans. Shellpoint has offices throughout the United States, including Greenville, South Carolina; Houston, Texas; Tempe, Arizona; and Jacksonville, Florida. Shellpoint’s clients include leading banks, loan originators, and real estate investment trusts (REITs). Shellpoint’s ongoing success is grounded in its ability to deliver superior asset performance and to develop creative and practical solutions for homeowners in need. Shellpoint is proud to be part of NewRez LLC (“NewRez”). NewRez is owned by New Residential Investment Corp. (NYSE: NRZ), a publicly traded REIT that invests in and actively manages residential real estate investments.
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