For investors seeking a servicer that specializes
in non-performing residential mortgages, we are amongst the few
firms that are only focused on this form of servicing.
We recognize that conventional loan servicers do not have the
resources, expertise, technology and staffing to effectively manage
non-performing assets. By solely focusing on non-performing assets
and outsourcing performing mortgages to the larger firms that have
superior resources, we are able to provide a results-based
cost-effective proprietary service that competitive firms
cannot.
Our collection commences as soon as we receive copies of the
seller's RESPA "goodbye" letters demonstrating that we are the
designated loan servicer. During the collection process, our
primary objective is client retention by locating, contacting and
understanding the borrower's situation for the purposes of
converting the loan from delinquent to performing. Our secondary
objective is efficient, cost effective repossession of the property
through deed in lieu or foreclosure (based on a
property-by-property analysis). Loan servicing includes:
- Late Notices sent at 7 days delinquent
- Collection Letters
- Foreclosure Notices sent at 30 days delinquent
- Bankruptcy Relief
- Legal Issues Coordination
- Foreclosure Processing
- Short Sale coordination
- Borrower Inquiry calls handled
- Skip Trace
- Collection calls
- Negotiations
- Letters of Understanding
- Loan Modifications
- Forbearance Agreements
- Property Preservation and Securing
- Handle City Notices and Issues