Woodland Hills, CA (PRWEB) August 5, 2008
Strategic Asset Solutions (http://reosas.com) has announced its new California Senate Bill 1137 Service for mortgage lenders and servicers. This ground-breaking service offering comes in response to the recent July 8th, 2008 State Legislation, aimed towards addressing the adverse effects of high foreclosure rates in California.
Under the new bill, distressed borrowers must be contacted 30 days prior to being served a Notice of Default ("NOD"). If these borrowers cannot be reached, the lender (or authorized agent) must go through a series of steps, including mailings and numerous communication attempts, to satisfy the new regulation. With their extensive loss mitigation background and operational efficiencies, Strategic Asset Solutions ("SAS") feels that they are a perfect partner for lenders and servicers that do not have the resources to comply.
"Compliance with 1137 will take an immense amount of time, diligence, and documentation; each of which SAS possesses for this endeavor," stated Bill Soncini, Director of SAS. The company is an affiliate of Asset Foreclosure Services, Inc., (assetforeclosure.com) a foreclosure processing firm whose clients will find this service extremely useful. "We are thrilled to have an affiliate company, whose capabilities we know and trust, perform a service that will be pivotal to our process and this industry as a whole," asserted Kelli Espinoza, Default Manager of Asset Foreclosure Services.
For more information on Strategic Asset Solutions, call 1-866-919-1727 or visit http://www.reosas.com.