ModCo Solutions Launches Operations to Assist Mortgage Servicers

- Specialized firm aims to connect servicers and borrowers by performing field
outreach campaigns. -

ALISO VIEJO, Calif., Aug. 5 /PRNewswire/ -- ModCo LLC, a California-based
company seeking improved communications between servicers and borrowers, has
launched ModCo Solutions, a new division created to help Mortgage Servicers
cope with increasing foreclosures and changes in mortgage servicing laws.
ModCo Solutions puts servicers and lenders in direct contact with borrowers,
employing loss mitigation strategies and field services with a preemptive
approach to default servicing. As foreclosures reach record levels, the firm
seeks to provide the infrastructure for servicers to meet existing and new
servicing regulations and reach out to more troubled borrowers before
foreclosure is the only option.
Prepared for legislation like SB 1137 in California, ModCo Solution's
skilled staff and advanced technology provide advanced outreach to borrowers
anywhere with automated reporting to show due diligence. Property and
occupancy inspections are provided along with valuation and tax certification
data, and each campaign is tailored to meet the need of each individual
servicer.
ModCo was founded by three skilled mortgage finance professionals who
recognized the need for an independent third-party to aid servicers on a
national scale and find alternatives to foreclosure. With a network of 13,000
real estate professionals across the country, property valuation & inspection,
homeowner counseling, and financial summaries, the company offers
comprehensive solutions that are easily added to any loss mitigation
department. ModCo's founders envisioned a process bringing troubled homeowners
to the attention of servicers early enough to find foreclosure alternatives
that benefit both lender and borrower.
"ModCo Solutions is the dream partner for servicers, we support their loss
mitigation efforts," said John Lynch, Principal of ModCo LLC. "Our mission is
home preservation, assisting lenders' home preservation strategies and helping
them find troubled borrowers as early as possible."
About ModCo Solutions
ModCo Solutions (http://www.modcosolutions.com) makes it easier for
Mortgage Servicers to help more homeowners by presenting Asset Managers with
problematic loans long before the borrower faces default. By recognizing loss
mitigation opportunities early in the loan cycle, Servicers are able to avoid
costly problems in advance. Working as a third-party extension for servicer
with neutral intent, ModCo provides financial analysis with transparent
outreach, and full reporting in order to create a solution where all parties
involved win.
SOURCE ModCo LLC

Erin Forbes, Sr. VP Loss Mitigation, ModCo , +1-949-544-8118