LenderLive Network Inc. has announced a partnership with Michigan-based Spartan Equities Capital Management to service the company’s mortgages. Spartan Equities focuses on distressed real estate portfolios, foreclosures, non-performing mortgages and notes. LenderLive began working with Spartan in late 2012 and provides end-to-end customized servicing with a solution specifically designed to support the fund’s distinct strategy and business requirements.
“We were looking for a trusted partner who understood the industry,” said Jay Bobel, CEO and managing partner of Spartan Equities. “A business acquaintance referred LenderLive to us and highly recommended the company’s services. We wanted a partner who was experienced in the default space and high-touch servicing arena. LenderLive has exceeded expectations in a short period of time through its dedicated client management and 24/7 attention to our portfolio. Currently, we are only working with the servicing division, but our future goal is to expand the relationship and make LenderLive our primary mortgage services provider.”
Since working with LenderLive, Spartan Equities can now offer aggressive loan modifications and other workout options to help reduce a borrower’s principal loan balance, which was not an option with its previous servicer.
“Since partnering with Spartan Equities, our goal has been to make their entry into the market as seamless as possible,” said Chris Sabbe, senior vice president of LenderLive’s Loan Servicing division. “As a trusted partner, our team strives to provide loan-level attention to our clients’ portfolios—one borrower at a time. Providing these services allows Spartan to effectively manage its core business strategy while expanding the relationship into other LenderLive service offerings over time.”