Irvine, Calif.-based Financial Asset Services Inc. (FAS), a national asset management company, has launched a new door-knock service designed to help servicers in their loss mitigation efforts.
‘Utilizing door knocks is a cost-effective way for mortgage servicers to reach out to homeowners that may have 'gone dark' in the default process,’ says Jeffrey Flory, head of FAS' sales and marketing team. "We leverage our nationwide network of seasoned [real estate owned] and short sale agents, so if they are fortunate enough to make contact and the homeowner is willing to talk, they can have a constructive discussion of some of the options that may be available to them."
The agents are given strict instructions as to what their specific behaviors should be while executing the door-knock service in order to remain compliant with the Fair Debt Collection Practices Act, FAS says.
SOURCE: Financial Asset Services Inc.