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ModCo Helps Lenders Reach Out to Borrowers.(Special Report)
Aliso Viejo, CA-ModCo, a California-based company seeking improved communications between servicers and borrowers, has launched ModCo Solutions, a new division created to help mortgage servicers cope with increasing foreclosures and changes in mortgage servicing laws.
ModCo Solutions puts servicers and lenders in direct contact with borrowers, employing loss mitigation strategies and field services with a pre-emptive approach to default servicing. As foreclosures reach record levels, the firm seeks to provide the infrastructure for servicers to meet existing and new servicing regulations and reach out to more troubled borrowers before foreclosure is the only option.
Prepared for legislation like a recent bill in California, ModCo Solution's staff and technology provide outreach to borrowers anywhere with automated reporting to show due diligence. Property and occupancy inspections are provided along with valuation and tax certification data, and each campaign is tailored to meet the need of each individual servicer.
"ModCo Solutions is the dream ...
- ModCo Solutions Launches Operations to Assist Mortgage Servicers.
- Press release article from: PR Newswire August 5, 2008 700+ words
...servicing laws. ModCo Solutions puts servicers...employing loss mitigation strategies...added to any loss mitigation department...borrower. "ModCo Solutions is the dream...support their loss mitigation efforts...
- Loss Mitigation Is Cost Effective.
- Magazine article from: National Mortgage News APGAR, WILLIAM November 8, 1999 700+ words
...effectiveness of the FHA's loss mitigation program, which provides single...audit report on the single family loss mitigation program. As stated in the Executive Summary, the use of loss mitigation is indeed rising exponentially...
- The return of LOSS mitigation. (loan servicing)
- Magazine article from: Mortgage Banking Litton, Larry B., Sr. May 1, 1997 700+ words
...delinquent loans by implementing aggressive loss-mitigation programs. Whereas traditional servicing...to 1,000 loans per employee), loss mitigation is a highly labor-intensive business...Servicing executives generally resist loss-mitigation activity for several reasons. Loss...
- TNLMA[TM] Announces Official Launch of National Loss Mitigation...
- Press release article from: Business Wire March 11, 2009 700+ words
...Regulatory Proactive Association for the Loss Mitigation Industry and Loan Modification Service...the first national association for Loss Mitigation and Loan Modifications founded to...meeting the growing public demand for loss mitigation services. "TNLMA[TM] believes...
- Managing to cushion the blow. (mortgage servicing industry's loss mitigation...
- Magazine article from: Mortgage Banking Hoff, John R. February 1, 1997 700+ words
...agencies are bringing dramatic changes to loss mitigation. A new survey captures what servicers...understand how they are approaching loss mitigation as this new era in delinquency management...the servicing industry relative to loss mitigation. What is essentially taking place...
- LOGS Adds Loss Mitigation Feature to Online Communications.
- Magazine article from: Mortgage Servicing News April 1, 2000 700+ words
...Services Inc. has developed a loss mitigation module for its LOGS Management...identify and communicate potential loss mitigation opportunities online to mortgage servicers. The loss mitigation module is especially useful in...
- TNLMA[TM] Announces Launch of Certification Program for Loan Modification...
- Press release article from: Business Wire March 19, 2009 700+ words
...National Proactive Association for the Loss Mitigation Industry and Loan Modification Service...of ethics for loan modification and loss mitigation specialists. Upon completion of this...forum for executives from leading loss mitigation companies to come together in conferences...
- Firm Offering More in the Way of Loss Mitigation Services.
- News wire article from: Mortgage Line Harmon, Jennifer November 7, 2008 700+ words
...foreclosure each day, successful loss mitigation is of critical importance in today...industry know it has expanded its loss mitigation package to include its notary service...been reported that 50% to 60% of loss mitigation packages are not returned from the...
Source: HighBeam Research, ModCo Helps Lenders Reach Out to Borrowers.(Special Report)