Altisource Portfolio Solutions has debuted its Signature Seller Assisted Sale program – a solution designed to help borrowers who are unable to meet retention requirements avoid foreclosure by assisting in the sale of their home.
The company says the program has the potential to benefit mortgage servicers by reducing the number of properties in foreclosure, thus lessening the burden on managing their delinquent portfolio. For the borrower, the Signature Seller Assisted Sale program offers a solution that may help avoid foreclosure. The program can be used as a short sale or equity sale, depending on the value of the home and the unpaid balance of the loan.
The program can include one or more of Altisource’s services, including its call center, valuation services, national brokerage and Hubzu online real estate marketing platform. There is no fee for servicers to participate in the program.
“The Signature Seller Assisted Sale program is designed to utilize Altisource’s integrated services to assist borrowers in gracefully selling their home when all retention possibilities are exhausted,” says John Vella, chief revenue officer at Altisource. “We feel our combination of services uniquely positions us to offer solutions that no other vendor can provide. In the end, this program can help borrowers, servicers and investors achieve the optimal outcome in these uncertain times.”
Photo: John Vella
