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, the company says. 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 their only option.
‘ModCo Solutions is the dream partner for servicers. We support their loss mitigation efforts,’ says 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.’
Source: ModCo Solutions LLC
