ModCo Solutions launches operations to assist mortgage servicersMortgagePress.comModCo, mortgage servicers, ModCo Solutions, foreclosures, loss mitigation, SB 1137
ModCo LLC, 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 preemptive 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 SB 1137 in California, ModCo
Solution's skilled staff and advanced technology provide advanced
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 was founded by three skilled mortgage finance
professionals who recognized the need for an independent
third-party to aid servicers on a national scale and find
alternatives to foreclosure. With a network of 13,000 real estate
professionals across the country, property valuation &
inspection, homeowner counseling, and financial summaries, the
company offers comprehensive solutions that are easily added to any
loss mitigation department. ModCo's founders envisioned a process
bringing troubled homeowners to the attention of servicers early
enough to find foreclosure alternatives that benefit both lender
and borrower.
"ModCo Solutions is the dream partner for servicers, we support
their loss mitigation efforts," said John Lynch, principal of ModCo
LLC. "Our mission is home preservation, assisting lenders' home
preservation strategies and helping them find troubled borrowers as
early as possible."
For more information, visit www.modcosolutions.com.
