s Solutions, a nationwide business process outsourcing provider of default processing services for law firms and trustees, and loss mitigation fulfillment services to mortgage servicers, investors and insurers, has partnered with Philadelphia-based Radian Guaranty Inc., a provider of private mortgage insurance and related risk management products and services to mortgage lenders nationwide. Through a combination of loan modifications and forbearance plans, Prommis and Radian expect to help thousands of families over the next several years to maintain their homeownership. In May, Prommis reached out to more than 4,600 homeowners whose mortgages are insured with Radian, the company says. As part of its loss mitigation program, Prommis is facilitating communication between the lender/servicer and the borrower through mailings and outbound calling campaigns, as well as follow-up efforts. "It is paramount that as a mortgage solution provider, we join forces with a company like Radian to help prevent foreclosures and proactively turn the mortgage industry crisis around," says Brandon Barnett, chief operations officer for Prommis. "The response to the campaign is positive. We have received a high volume of inbound calls that have resulted in completed financial packages. When homeowners keep their homes, that's a real success for us – a win-win for all." Radian's senior vice president of loss mitigation, Camillo Melchiorre, says the partnership will enable Radian to expand its outreach efforts. SOURCES: Radian Group, Prommis So
