The National Groups, the parent company of the National Default Servicing LLC suite of mortgage service operations, has fully rolled out its Modification and Short Sale Fulfillment Program.
National Collections & Loss Mitigation Services LLC, The National Groups' full-service default management firm, has begun providing its default fulfillment services to government agencies as well as institutional and private mortgage investors and servicers.
"The full rollout of this program is an effective response to the volume of distressed borrowers under President Obama's Home Affordable Modification Program (HAMP) and the significant increase in foreclosed and real estate owned (REO) properties nationwide," says Larry Bird, chief operating officer of The National Groups.
The National Groups provides a suite of customizable default services through use of flexible technology, including ISIS, the firm's proprietary Web-enabled default solution and data warehouse.
The National Groups also utilizes third-party default management software solutions, such as REOTrans and DRI Management Systems, by client request. Both strategic partners provide The National Groups an integrated process flow around loan modifications, short sales, deeds in lieu of foreclosure, and REO processes. The National Groups, which partnered in the development of DRI's HAMP platform, has fully trained its representatives on both firms' applications.
As part of the program rollout, The National Groups is also reintroducing its full valuation suite of products offered through National Valuation Services LLC.
SOURCE: The National Groups