LenderLive Network Announces Homeownership Preservation Initiative with PMIMortgagePress.comLenderLive Network, PMI Mortgage Insurance Company, EarlyAction, mortgage delinquencies, foreclosures
LenderLive Network Inc., a business process outsourcing and
technology provider for the financial industry, announced a joint
initiative with PMI Mortgage Insurance Company (PMI) to provide
workout solutions to prevent mortgage delinquencies and
foreclosures.
"This relationship will create opportunities for more borrowers
to stay in their homes," said Rick Seehausen, president and CEO of
LenderLive. "We respect the role PMI has in the industry, and we
believe this relationship will help each company provide the
services their constituencies need."
Under the initiative, LenderLive will work with PMI, and the
mutual servicers who service loans insured by PMI, to identify
borrowers who are more likely to default on their mortgages and
face foreclosure.
"It's easier to develop workout programs for borrowers who are
in trouble if you can address the problems with their mortgages
before they start to miss payments," said John Jelavich, PMI's vice
president of homeownership preservation initiatives. "PMI is
committed to the preservation of homeownership, and we eagerly
pursue opportunities to prevent delinquencies and foreclosures
through early intervention services such as LenderLives EarlyAction
program."
LenderLive's EarlyAction program, a service in the company's
specialty origination channel, provides counseling services to help
with loss mitigation and portfolio retention efforts. Highly
trained personnel contact certain identified borrowers to determine
the level of risk of prepayments or defaults, complete full
financial assessments and qualify homeowners into alternative loan
products or loan modifications, as determined by the client.
For more information, visit www.lenderlive.com.
