Stewart Lender Services (SLS), a wholly-owned subsidiary of Stewart Title Company, has announced a comprehensive solution to help mortgage servicers meet the requirements of the Home Affordable Foreclosure Alternatives (HAFA) program. HAFA provides additional options and incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu to avoid costly foreclosures.
“SLS is an industry leader--offering mortgage servicers an effective alternative to costly in-house processing,” said Jason Nadeau, SLS president and chief executive officer. “Our Home Retention Services group has now developed a solution for mortgage servicers seeking an efficient means for complying with HAFA requirements. Using an experienced and proven FDCPA-compliant Borrower Contact Center and fully integrated workflows, we can handle properties throughout the distressed asset continuum–loan modification, short sale, deed-in-lieu, foreclosure, asset management and disposition–improving communication among all parties and accelerating transaction completion.”
To compress the time for completing a short sale, or implementing a deed-in-lieu, SLS title and settlement teams work upfront to identify any potential title issues and necessary third-party payoffs to immediately begin curative title work. This assists in investor and mortgage insurance negotiations and ensures that hurdles in the transaction are cleared prior to the receipt of an offer to purchase the property or transfer of deed.
The SLS Short Sale Management Center combines experienced professionals and proven technology to improve the speed and effectiveness of short sale transactions. The Center relieves servicers of the time-consuming, labor-intensive short sale process, moving it into the hands of an experienced real estate transaction management company. Deed-in-lieu transactions are often complex and ultimately require the experience of a title underwriter to complete. SLS has the experience and vested interest to ensure each transaction is conducted properly. Stewart combines a proven loss-mitigation organization with more than 100 years experience in complex title curative services to provide a seamless solution.
Stewart’s combined short sale/deed-in-lieu process and proactive title review offers a single-source foreclosure alternative solution that allows for a smooth transfer from short sale to deed-in-lieu eliminating any delays in the marketing of the property after transfer to the lender.
For more information, visit www.stewartlenderservices.com.