Integrated Mortgage Solutions and REO Leasing Solutions LLC have joined forces to address rapidly growing loss mitigation and real estate-owned (REO) challenges in today’s housing market. According to recent reports, more than five million households are behind on their mortgages and risk foreclosure. With unemployment rates hovering near 10 percent nationwide, the number of distressed borrowers is likely to remain high as well over the next year. Servicers are in need of solutions that help them manage the increasing volume of defaulted loans on their portfolios.
“Ever-changing legislation necessitates uniting with a proven organization that has deep experience in the both the mortgage market as well as property management in the residential market,” said Cheryl Lang, president and chief executive officer of IMS. “REO Leasing Solutions brings a seasoned management team and a national perspective to this emerging market. In working with REO Leasing Solutions, IMS is equipped to offer additional loss mitigation and REO options to our customer base. The additional expertise that REO Leasing Solutions deliver enables IMS to work within landlord-tenant law—leases, tenant qualification, payment by credit card, tenant turnover, make ready, and habitability and maintenance requirements.”
IMS adds the deep experience of REO Leasing Solutions in residential market property management to its distressed portfolio management services. IMS provides a wide array of asset management solutions on a third-party basis to mortgage servicers, expediting the loss mitigation process.
“We are strategically building our company in order to provide organizations like IMS with end-to-end specialty solutions in the distressed market and on a scale they demand,” said C. Alan Paylor, president of REO Leasing Solutions LLC. “IMS is able to give their investors immediate options, even at their initial due diligence of a distressed portfolio. REO Leasing Solutions can model a rent/lease option and provide cash flow analysis and ROI on a portfolio or a single loan.”
For more information, visit www.imstoday.com or www.reo2lease.com.