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National Mortgage Professional
Aug 04, 2008

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.
Published
Aug 04, 2008
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