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SN, Bank Trade Group Team Up.(SN Servicing Corp., America's Comm-unity Bank)(Brief Article)

Mortgage Servicing News

| October 01, 2004 | Collins, Brian | COPYRIGHT 2004 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

SN Servicing Corp. has entered into an exclusive arrangement with America's Comm-unity Bankers to provide the trade group's members with workout services on problem assets.

As part of the agreement, the Eureka, Calif.-based workout and investment firm, will provide free pricing estimates on nonperforming loans and foreclosed real estate and, when requested, submit offers to purchase the assets.

"Under our exclusive ACB members-only agreement, SNSC will offer a unique, preferred pricing structure as well as an extremely simplified purchase and sale agreement - unlike any in the industry," ACB president and chief executive Diane Casey-Landry said.

SNSC specializes in working with small and midsized firms and it will purchase one, five or 10 loans at a time, according to the company's senior vice president for sales, Tim Campbell. He stressed that SNSC is service orientated and expects to profit from long-term relationships.

"Their focus on service is why we chose them," ACB SVP Debbie Whiteside said. Ms. ...

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Source: HighBeam Research, SN, Bank Trade Group Team Up.(SN Servicing Corp., America's...

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