New Default Servicer Focuses on Broker-Centric Model

DENVER, June 19 /PRNewswire/ -- Paradigm Default Services, LLC. announced
today that it has initiated REO, third-party servicing designed to serve the
needs of clients and investors who are awash in a sea of sub-prime
foreclosures nationwide. Paradigm is both an operational platform for handling
lender acquired properties and an acquisitions vehicle for synergistic
business units closely connected and supportive of its default servicing
business. A company spokesman explains that Paradigm is creating a special
default servicing unit which will provide "cradle-to-grave" hands-on servicing
taking loans from initial default to re-performance or liquidation.
Paradigm acts as a third-party facilitator between lenders and local real
estate brokers throughout the nation to ensure that the myriad of details of
local asset management: taking possession of foreclosed collateral, readying
it for sale, marketing it and closing the sale, are capably discharged without
liability.
The task of an REO outsourcer is to translate and effectuate a lender's
disposition objectives in a timely and prudent fashion, eliminating risk and
maximizing net recoveries while making the process transparent and legally
compliant.
REO outsource companies rely on numerous sub-specialties to accomplish
their work. Title experts, attorneys, appraisers, property preservation
contractors and local brokers all take direction from, and have their actions
orchestrated by, the outsourcer.
The principal force behind Paradigm is Tom Di Mercurio, 60, who will acts
as Chief Executive Officer and strategist for the company. Di Mercurio has had
a storied career in the administration and disposition of bad loans and REO.
In 1986, he was awarded Fannie Mae's coveted "Chairman's Award" for proposing
limits on foreclosure fees on uncontested foreclosure fees. Fee limitations
were subsequently adopted by FreddieMac, HUD and VA.
More recently Di Mercurio has led FGB Realty Advisors, Fidelity National
Asset Management Solutions, and The Mercury Alliance, LLC. He is a frequent
speaker at National conferences and is often quoted in the national press.
Although his industry biography lists him as a career mortgage banker and
distressed loan specialist, Di Mercurio sees himself as a "broker's broker."
He has been a member of the National Association of Realtors (NAR) since 1973
and is a member of NAREB and NAHREP.
As a first in the industry, each Paradigm employee who transacts real
estate through its brokers will be licensed as a real estate agent or broker
-- "Brokers dealing with brokers."
"As the industry deals with exponentially increasing defaults and
foreclosures," explains Di Mercurio, "I believe our offering will be well-
received because it is fundamentally founded on our unique program to recruit
and retain the best broker talent -- the most important component to any
successful REO liquidation!"
For more information: http://www.paradigmdefaultservices.com
SOURCE Paradigm Default Services, LLC.

Tom Di Mercurio, Chairman|CEO of Paradigm Default Services, LLC.,
+1-303-551-8980