The National Groups, the parent company of the National Default Servicing LLC suite of mortgage service operations, announced that Mitchell Oringer and Richard T. Fikani have joined the firm, filling two new leadership positions. In response to the increased volume of distressed borrowers and the growing number of foreclosed and REO properties nationwide, The National Groups has been expanding its efforts to help reduce the exposure of both “At Risk” borrowers and "Value Challenged" collateral.
Oringer will assume the role of senior managing director--REO/loss mitigation operations, for The National Groups. He was most recently with Titleserv National Default in Austin, Texas where he was senior vice president, loss mitigation services. Oringer brings more than 20 years of experience in the REO and loss mitigation industry to The National Groups, including senior positions with Indymac Federal Bank, GMAC Rescap LLC, GMAC Mortgage Corporation, and Clayton National Inc.
Fikani steps in to the new position of managing director of default services for The National Groups. He comes to the firm from Titleserv National in Austin, Texas where he was vice president, director of operations. Previously, FFikani was executive vice president of mortgage for Wachovia Corporation in Charlotte, N.C. He held various management positions with the firm in origination and underwriting beginning in 1989.
“Mitch and Richard bring a deep knowledge of REO and loss mitigation to the firm and we’re thrilled to have them join us,” said Bruce Wentworth, senior managing director of The National Groups. “They’re the right people at the right time for the firm and their abilities will go a long way toward accelerating and managing the organic growth of The National Groups.”
The National Groups provides a full suite of customizable default services through an aggressive utilization of flexible technology, including ISIS, the firm’s proprietary web-enabled default solution and data warehouse. In addition, The National Groups utilizes third-party default management software solutions like REOTrans, a leading provider of asset, vendor, and REO management software, and DRI, a leader in default management solutions, by client request. Both strategic partners provide The National Groups an integrated process flow around loan modifications, short sales, deed in lieu of foreclosure, and REO processes.
With corporate headquarters in a new state-of-the-art office complex in Glastonbury, Conn. and a west coast operations center in San Diego, The National Groups is set to serve every time zone of the country.
For more information, visit www.defaultservicingllc.com.
