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National Mortgage Professional
Aug 07, 2008

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
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