Tag Archives: Lenders

Mortgage Advantages Corp. and Lenders Advantage to Supply Discounts on Settlement Services

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Redwood City, CA (PRWEB) September 30, 2005

Mortgage Rewards Corporation (MBC http://www.mortgageplans.com), the leading provider of group mortgage positive aspects, nowadays announced that Lenders Advantage (http://www.lendersadvantage.com), a division of Very first American Title Insurance coverage Business, has reached an agreement to offer discounted settlement services for The MortgageChoice Program via Uniquest, a tailored title insurance coverage and settlement services item for refinance transactions.

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The new Uniquest solution gives special pricing and terms on title insurance and other settlement solutions to MortgageChoice Strategy members by means of a nationwide, state-of-the-art electronic processing method. Plan Members will benefit from a centralized title solution, coordinated with the “higher touch” assistance of a local closing. Lenders Benefit utilizes nearby First American offices/agents in 44 states and DC for settlement.

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“Lenders Advantage has designed a exclusive system with national servicing levels and particular pricing terms to fulfill title and settlement solutions for our Program members”stated Marsha Tiller, president and founder of MBC. “Uniquest is an unprecedented fusion of a centralized title item, coordinated regional closing solutions, and enhanced consumer assistance. Lenders and brokers will be in a position to perform collectively on The Mortgage PPO and The Realty PPO platform to control title turn instances and monitor the quality of regional settlement agents. ”

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Uniquest will not require the MBC mortgage broker providers to modify their internal processes to accommodate current Lenders Advantage applications or call for adapting to a customized variation of centralized closing. As an alternative, Uniquest is a total modification of Lenders Advantage applications and will wrap about the existing approach of most mortgage brokers.

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The MortgageChoice Plan voluntary advantage, launched in June 2004 on The Mortgage PPO platform, utilizes the purchasing energy of the employee group to offer discounted pricing and offers a decision of preferred providers and 1-quit shopping comfort. In July, MBC launched The Realty PPO, which functions cash rebates and credits to employees for the obtain or sale of properties, a decision of pre-screened Realtors

Verification Bureau Partners with Lenders to Battle Loan Modifications Fraud Schemes

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Miami, FL (PRWEB) April 20, 2009

Verification Bureau Inc., a leader in fraud detection and info verification options for the monetary business, launched Loan Mod Audit which aids lenders and servicers foretell the borrower’s capability to repay a modified loan and authenticate that the applicant is truthfully under financial distress by way of revenue and employment validations.

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LoanMod Audit verifies the borrower’s revenue and employment utilizing a highly automated and paperless system, which accesses numerous databases like the Internal Income Service by making use of the 4506-T type. This IRS direct program is capable of delivering outcomes in a matter of hours by way of a safe site or in information format through XML web solutions. The answer can be bundled with other merchandise and solutions available via the fraudpredator.com on the web suite of info verification systems which consist of: identity, collateral, and asset verification options.

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“The new mortgage modification applications are now becoming hoaxed by unscrupulous folks. Some years ago they would falsely state income and employment in order to qualify for a loan. Today it is the other way around applicants shrink their revenue, fabricate paystubs, and claim unemployment even if they have a job in order to qualify for a loan modification plan. In addition, the very same “scam artist brokers” that were just before pushing fraudulent loans to investors are now counseling home owners on how to trick their loan modification programs” said Esteban Reyes – CEO for Verification Bureau, “LoanMod Audit, gives a dependable solution to not only lessen re-defaults by accurately validating the borrower’s potential to repay the loan but also to make sure the homeowner qualifies genuinely.”, he added.

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For more info about Loan Mod Audit contact 877-477-4506 Ext 201 or email sales (at) verificationbureau (dot) com.

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About Verification Bureau&#13

Founded in 2001, Verification Bureau is the top provider of automated IRS 4506T processing and Social Security Quantity verification systems. More than two,500 clients and 18,000 customers worldwide have screened more than 1,000,000 loan files using their suite of verification service and fraud detection systems. Verification Bureau provides a free of charge trial plan,which lenders can test their fraud detection tools for a limited time. For far more data: http://www.verificationbureau.com, phone 877-477-4506 Ext 201, or e mail sales (at) verificationbureau (dot) com.

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Regional Realtor Releases New Report for Struggling Homeowners Searching for to Function With Lenders to Discover Options

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Chapel Hill, NC (PRWEB) January 14, 2011

Regional CDPE-designated agent, Jodi Bakst of Group Jodi &amp Chapel Hill Realty Group, has created a website offering details describing a number of opportunities for property owners to avoid the damaging economic impact of foreclosure.

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This community resource is accessible at http://www.ShortSalesInNC.net and defines foreclosure options, such as quick sales, loan modifications and deeds-in-lieu of foreclosure.

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The New Year is when most Americans set objectives to boost their economic stability, but for some in the Triangle region, financial stability seems unattainable, Bakst said. With this report, Im displaying property owners that they have possibilities and that lenders are now more than ever prepared to operate with them.

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Foreclosures and short sales are up considerably in Orange and Durham Counties. These numbers reflect the properties that were sold through the Numerous Listing Technique, Bakst said. The actual numbers are higher than this due to the fact a lot of foreclosures are sold outdoors of the MLS.

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According to Fitch Ratings, lenders are projected to shed 45-85% of the initial loan quantity in foreclosure sales in 2011. In a brief sale transaction, property owners keep away from foreclosure by operating with their lenders and selling their home for less than the mortgage amount owed. Despite the fact that lenders accept less, the financial loss is far less severe than a foreclosure.

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In the New Year, we all want to look forward to a prosperous future and its frustrating when stability appears out of reach, Bakst stated. What struggling property owners want to recognize is that there are alternatives to foreclosure. All they need to do is ask for help.

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The CDPE Designation Bakst has acquired offers a distinct understanding of the complex concerns confronting distressed property owners. Via complete instruction and knowledge, CDPE-designated agents are capable to provide options for home owners facing financial hardship in todays industry.

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To find out far more, visit http://www.ShortSalesInNC.net.

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For a lot more data about the CDPE Designation, pay a visit to http://www.CDPE.com.

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Silicon Valley Agent Releases New Report for Struggling Homeowners Looking for to Operate With Lenders to Find Options

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Silicon Valley, California (PRWEB) February three, 2011

On the internet report outlines foreclosure options for property owners struggling to make mortgage payments in Santa Clara, San Mateo and Santa Cruz Counties.

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Neighborhood CDPE-designated agent, Timothy Alston of Keller Williams

United Law Group to Litigate on Behalf of More than 40,000 Home owners Against Main Servicers and Lenders for Alleged Improprieties

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Irvine, CA (Vocus) November 4, 2009

United Law Group announced the formation of Class Action lawsuits against Bank of America, Countrywide, Washington Mutual, JP Morgan Chase, Wachovia, Ocwen and several others. More than 40,000 defendants are involved in the suits, alleging unfair- and deceptive-practices.

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In a recent post on MSN titled, Should You Sue Your Lender, Christopher Solomon of MSN True Estate writes, As America’s subprime lending mess evolves from a storm on the horizon to a real nationwide deluge, an increasing quantity of homeowners are turning to the courts for support with the loans they can not afford.

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United Law Group is currently reviewing complaints from property owners. This national law firm has active lawsuits against Bank of America and its subsidiary Countrywide Home Loans, Inc. (case number 30-2009 00121999) and JP Morgan Chase and its subsidiary Washington Mutual (case quantity 30-2009 00122403) for tortuous interference with contract, defamation (slander) and unfair business practices (pursuant to B&ampP Code

Lenders Blow Off Loan Mod Mediations in Nevada

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Las Vegas, NV (PRWEB) November 25, 2009

Andy Driggs, a Nevada lawyer with more than 18 years of knowledge, is no stranger to courtrooms, mediations or legal wrangling. Getting one of the 1st lawyers in Nevada to manage loan modification mediations under AB 149 (the recently enacted loan modification laws in Nevada mandating mediation in between lenders and borrowers) has established to be an uncommon encounter for Driggs. The lenders have therefore far confirmed to be elusive – they are not sending anybody to the mediations as required by law. Toby Mathis, host of the BOSS Organization Short which is airing an interview with Driggs this week, stated “Andy told me the banks had been essentially refusing to cooperate – that the mediators have been trying to get a hold of the banks at the mediations to see why no one from the lenders was present.” Mathis continued, “It has to be extremely frustrating for a homeowner who is in danger of losing the loved ones property to be met with apathy from a lender.”

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The outcome is that all home owners require to be conscious of their rights and how to proceed against their lender if the lender will not participate in the modifications process. The runaround is coming in the loan modification method. Attorney Aaron Yen of BOSS Loan Modifications, LLC for the duration of an interview on the BOSS Organization Brief last week explained how frustrating the loan modification method could even for attorneys representing borrowers. “I have spent 2 and a half hours on the phone” explained Mr. Yen “…exactly where they (the lender) do not even know where the file is…” It is not uncommon to commit hours upon hours merely trying to discover a lender’s representative who really has details on a certain loan. “Having someone with the internal fortitude to push things through even in the face of apathy is crucial” explained Mathis.

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Driggs went on throughout his interview that his firm, Driggs Law Group, and BOSS Loan Modifications, LLC have teamed up to produce the “Save Your Residence Tour” where homeowners are going to be provided No Income Down Loan Modifications and No Funds Down Bankruptcies. This is the first time such an providing has ever been created obtainable to homeowners in Nevada.

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The tour is expected to include a series of totally free seminars in the Las Vegas area where representatives of both firms will clarify homeowners’ alternatives that function in real life. Mathis explained “there are those that speculate and those that do…I prefer to bring the men and women who really do the modifications and legal proceeding onto the show to inform people what is really going on.” He added “When instances are tough – I do not feel folks need to have to pile it on…the reality that there are No Money Down options out there let’s men and women know that they do not have to go it alone if they do not have a ton of income.”

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The BOSS Organization Short featuring the interview with Andy Driggs airs the week of November 23rd on each KNUU and KDOX in Las Vegas.

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For dates on the upcoming tour, pay a visit to http://www.bossloanmodifications.com for a lot more details.

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The BOSS Organization Short airs numerous instances per week on 970 KNUU and Fox News 1280. It is hosted by Toby Mathis, Esq. and Steve Pellegrino. Toby Mathis is the Basic Manager of BOSS Organization Services in Las Vegas and a partner in Anderson Law Group, PLLC. Steve Pellegrino (aka “The Spin Doc”) is a Principal in AMR Partners, a Las Vegas Media Consulting Organization. With each other, they go over organization topics that assist small organizations operate better, save cash and stay away from errors. To listen to archived shows, pay a visit to http://www.BossOffice.com.

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United Law Group Litigating on Behalf of Property owners Victimized By Lenders and Servicers Who Arent Honoring President Obamas Property Cost-effective Modification System (HAMP)

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Irvine, CA (Vocus) December 9, 2009

United Law Group these days announced a plan to aid distressed existing and former homeowners by filing litigation and class action lawsuits against lenders and mortgage servicers. Any person that has been harmed by these firms can get in touch with the firm for a free consultation or to be entered into the class action suit for no charge.

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United Law Group is at the moment reviewing complaints for circumstances against significant monetary institutions which includes Bank of America, Wachovia, Ocwen, JP Morgan Chase, Washington Mutual, and other people. This national law firm has active lawsuits against Bank of America and its subsidiary Countrywide Property Loans, Inc. (case quantity 30-2009 00121999) and JP Morgan Chase and its subsidiary Washington Mutual (case number 30-2009 00122403) for tortuous interference with contract, defamation (slander) and unfair enterprise practices (pursuant to B&ampP Code

Capco Unveils New Report Analyzing Current and Future Risks to Investors, Lenders and Servicers

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New York, NY (PRWEB) April 22, 2010

Capco, the global provider of consulting and managed services to the economic solutions sector, has published a new report that provides investors, lenders and mortgage servicers strategic guidance on mitigating losses from a variety of dangers particularly those that are becoming triggered by strategic defaulters.

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The report, entitled, The Genuine Problem in the Housing Crisis: Whos Going to Blink 1st, Banker or Borrower? analyzes the existing residential real estate industry and ongoing mortgage crisis and provides detailed actions for uncovering, confronting, and mitigating ongoing and upcoming dangers although generating new organization value and opportunity at the same time.

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With the evaporation of some $ 7 trillion in homeowner equity over the previous three years, it is becoming increasingly clear that banks and homeowners will still have challenging decisions to make in a market place that will not swiftly return to the real estate valuations that had been prevalent in the years leading up to the economic crisis. &#13

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Strategic Asset Solutions Indicates Rising Willingness Of Lenders To Accept Principal Reductions Of Industrial Real Estate Loans

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Woodland Hills, CA (PRWEB) August 11, 2010

Commercial actual estate lenders normally are motivated to safe a non-recourse loan by adding a powerful guarantor, stated Kevin Levine, Executive Vice President of Strategic Asset Services (SAS) of Woodland Hills, California a business that specializes in industrial workouts and quick sales. In a workout situation they could even be prepared to minimize the principal balance, in exchange for a complete-recourse guarantee by a financially solid guarantor. However lenders in no way will lessen the principal obligation without acquiring some thing of significant value in return.

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Levine explained that SAS recently was capable to negotiate a reduction of a industrial actual estate loan with a principal balance of $ four.7 million to $ three million. The lender performed its own valuation analysis, and agreed with our conclusion that the property securing the loan was not worth much more than $ three million and really possibly considerably much less, Levine said. The creating had been unoccupied for some time, and the borrower had provided notice to the lender that it would not continue to make the big month-to-month mortgage payments out of his personal funds, plus pay the house taxes, insurance coverage and ongoing upkeep expenses on the property. So the lender was faced with foreclosing on an empty building and holding it for an indefinite period of time, or accepting a new principal balance of $ three million but with a complete-recourse assure assuring ultimate recovery of that amount.

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Each lender has its personal internal policies and procedures, and organization culture, Levine explained. Some lenders have policies in spot that definitely prohibit getting into into a principal reduction with the existing borrowers. In these circumstances, we often can negotiate a short sale or note buy to a third celebration. In other circumstances, the lender has no formal policy prohibiting a principal reduction but the organization culture is resistant to such a outcome, and we have to present a compelling case as to why this is the best course for the lender to comply with in order to maximize its recovery in an already poor scenario. Typically there are multiple levels of authority to be convinced: loan officers, asset managers, problem loan committees, and board of directors.

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SAS (http://www.strategicworkouts.com) gives commercial loan modification and short sale services in California and all through the country. The organization is dealing with multi residential, retail, offices, industrial, land and its specialists bring extensive industrial real estate knowledge to each and every assignment, like marketplace evaluation, valuation, legal, and negotiation knowledge. Each borrowers special lending circumstance is totally analyzed, and the borrower is assisted in preparing existing operating reports and projections. Primarily based on the detailed analysis, SAS submits to the lender a loan modification proposal. That proposal may possibly consist of a principal reduction, interest rate reduction, and waiver of penalty charges. In those situations where a loan modification will not function to the mutual advantage of the borrower and lender, SAS will try to broker a short sale of the commercial real estate at a significant discount from the loan balance, or will seek to negotiate a sale of the note to a third-celebration.

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SAS is a member of the Peak Corporate Network (http://www.peakcorp.net) headquartered in Woodland Hills, California. In addition to industrial loan modifications, PCN provides mortgage lending, loan servicing, residential brief sale, 1031 exchange, trustee perform, foreclosure solutions, Escrow and actual estate sale brokerage solutions. These solutions are accessible mostly throughout the Western United States for both residential and industrial real estate properties and loans.

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House Worth Declines Prompt Lenders To Renegotiate and Extend Balloon Payment Loans

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Woodland Hills, CA (PRWEB) December 11, 2010

Much more and a lot more industrial real estate lenders are faced with balloon payments coming due, stated Kevin Levine, Executive Vice President of Strategic Asset Solutions (SAS) of Woodland Hills, California. As a outcome, they are becoming forced to face the stark reality of either renegotiating and extending the loan, or foreclosing on an asset worth substantially much less than the loan balance.

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Levine pointed out that a growing quantity of industrial properties across the United States have suffered substantial worth declines. So a percentage of the industrial real estate loans secured by such properties are now beneath collateralized. Lenders normally prefer to have significant loan-to-value ratios, Levine mentioned. This means that their loan underwriting standards require that the there be a large property worth margin say 35-40% – in excess of the loan quantity secured by that property and based on the property type, it may even be greater. That way, when a balloon payment becomes due and is not met by the borrower, the lender can foreclose with self-assurance in its ultimate recovery of the loan balance. But now that those collateral margins have vanished in a lot of instances, the lenders face a dilemma. So it may possibly be a better choice for them to renegotiate and extend such loans, hoping for a rebound in property values that eventually will bail them out.

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Many regulated lenders, specifically banks and savings and loans, are possessing substantial capital difficulties in this atmosphere, Levine stated. So taking a huge loss on a under-value commercial real estate loan will additional effect their capital position in a damaging manner. By renegotiating and extending the loan, they may have to boost their reserve against that asset, but that typically will be less of a balance sheet hit than accepting a loss. Banks and other regulated lenders are particularly sensitive to those capital and reserve specifications at quarter ends and especially at year ends. So they are more open to negotiating with the borrowers as these events draw near. We attempt to take benefit of these timing possibilities when we are seeking to arrange a loan modification or other resolution for our borrower customers.

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SAS provides industrial loan modification and brief sale solutions in California and all through the country. The companys personnel bring comprehensive industrial genuine estate knowledge to each and every assignment, including marketplace analysis, valuation, legal, and negotiation knowledge. Every borrowers exclusive lending circumstance is fully analyzed, and the borrower is assisted in preparing existing operating reports and projections. Then SAS drafts and submits to the lender a loan modification proposal. That proposal could contain a principal reduction, interest price reduction, and waiver of penalty charges. In these situations where a loan modification will not function to the mutual benefit of the borrower and lender, SAS will attempt to broker a quick sale of the commercial real estate at a substantial discount from the loan balance, or will seek to negotiate a sale of the note to a third-party.

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SAS is a member of the Peak Network of businesses headquartered in Woodland Hills, California. In addition to commercial loan modifications, Peak Network firms offer mortgage lending, loan servicing, residential brief sale, 1031 exchange, trustee work, foreclosure solutions, and actual estate sale brokerage solutions. These services are accessible mainly throughout the Western United States for both residential and industrial actual estate properties and loans.

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Get in touch with Individual: Kevin M. Levine, Executive Vice President&#13

Business: Strategic Asset Options&#13

Address: 22837 Ventura Blvd., Ste. 105, Woodland Hills, CA 91364&#13

Telephone: (818) 866-9191&#13

Fax: (818) 206-3185&#13

Email: kevin(at)strategicworkouts(dot)com&#13

Website: http://www.strategicworkouts.com

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