NorthMarq Servicing News
June 2012 News and information for NorthMarq's Servicing customers  
Karen Pribnow's CornerFracking Leases: The Oil Rig in the Room for Lenders and Loan Servicers
From about 2005-2009, lenders were approving leases for the process of hydraulic fracturing beneath commercial and residential properties. Indeed, the pressure to do so was tremendous. For the borrower/property owner, the unexpected opportunity to sell his or her mineral rights and make “free money” was irresistible. As leaders in our industry, we must now recognize hydraulic fracturing and its potential for environmental disturbance as yet another risk that we must contrive to manage in our day-to-day lending and servicing decisions. Read more...
Jenni Bowser
By Jenni Bowser
 
 
Industry Insights
Fraud in the Insurance Industry: Danger for Commercial Borrowers and Lenders
In the endlessly challenging world of insurance, commercial loan borrowers and lenders were faced this year with yet another threat: large-scale fraud. The alleged scheme perpetrated by Michael Ward raised questions about how fraud of this kind could happen in the highly-regulated insurance industry. What lessons do these events offer for commercial mortgage borrowers and lenders? Read more... 
Employee Spotlight
Employee spotlightWhen this Insurance Supervisor accepted her new position five years ago, she hit the ground running, conceiving and implementing changes at a dizzying pace, all with an eye to promoting efficiency and consistency. Who is this person?
 
Servicing Stats
As of June 26, 2012
Portfolio Size
(in millions)
$40,283
Total Loans 5,563


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Lynn Chapman
By Lynn Chapman
 
Industry Insights
Tax Delinquency: How NorthMarq Helps When It Hurts
Since 2007 the mortgage banking industry has been weathering the hardest economic times in half a century, so it comes as no surprise that tax delinquencies in the NorthMarq portfolio have increased by 133% since 2009. The challenge for the primary loan servicer in overseeing tax delinquencies lies in identifying the tax delinquency penalties unique to each tax jurisdiction. Read more...


 
 
Inside Look
NorthMarq Recognizes Its Next Generation of Leaders
This month NorthMarq’s Servicing management paused to recognize a special group of our employees—those who have demonstrated leadership skills even though they do not yet hold formal leadership positions. Read more...