HEART Financial Services Notes Growth In Past Year

Financial Services says it has handled over a third of a million defaulting loans for its clients in the past 12 months, resulting in a success rate in loan modifications that tracked above the industry average. Since mid-2008, HEART Financial Services has worked with more than 350,000 borrowers and has been successful in creating loan modification and payment plans for more than 40% of their cases, the firm reports. ‘We originally focused on late-stage collection or early-stage foreclosure cases," says HEART Financial Services' co-founder, president and CEO, Gerald Alt. "We expanded dramatically in 2008 to develop high-touch, technology-enabled outreach programs to work with our clients' borrowers to find alternatives to foreclosure." The company boasts over 200 trained loss mitigation specialists, and Alt expects the company will handle twice as many cases in the coming year as a result of TARP and the increased focus on home-retention campaigns. HEART Financial Services earns its fees from loan servicers when it is successful in providing a loss mitigation alternative to foreclosure and bankruptcy. The company does not charge fees to consumers for its home-retention efforts. SOURCE: HEART Financial S


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