There are thousands of REO and loan servicing managers who are struggling to keep pace with their distressed loan portfolio as well as distressed property investors who are not getting an adequate level of service from their existing asset management companies. This collaboration offers clients an unparalleled level of expertise and streamlined service
Maitland, FL (PRWEB) April 5, 2009
Five national leaders in the mortgage and property management industry - Avalar Network, Inc., DDN Services, ECJ Asset Management, TrustTitle and TT Lender Solutions - today announced the formation of a strategic alliance to provide a one-source cross-functional solution for clients seeking to manage and maximize the value of distressed real property loan assets. The alliance brings together highly-experienced industry leaders from across the loss mitigation, REO asset management, real estate sales, property inspection and renovation, title and settlement fields. Alliance members have the experience and capacity necessary to provide rapid, expert solutions for servicing managers, investors and hedge fund professionals.
- Avalar Network, Inc. is a national network of real estate professionals with more than 160 offices across the U.S. The firm operates the Better Homes Realty franchise network and has been recognized by the National Association of Realtors as one of the fastest growing real estate and mortgage franchises nationwide.
- DDN Services is a national provider of specialized real property inspections and REO repair services. The firm can quickly and accurately determine work needed to make an REO property eligible for FHA financing and complete repairs using their national fixed-rate pricing system to engage contractors, thus streamlining the bid and construction processes. On average the firm completes FHA assessments within 3-5 business days, and repair construction within 2-3 weeks. DDN Services provides a lien-free guarantee and an independent final inspection, enabling lenders and investors to quickly and accurately price and prepare assets for marketing.
- ECJ Asset Management uses strategic specialization, technological innovation and professional portfolio management capabilities to give banks, thrifts, credit unions and mortgage servicers a distinct competitive advantage in the risky world of managing REO properties. The firm created its REO Asset Management services to help lenders and servicers manage their REO assets as quickly and efficiently as possible to mitigate the high costs of non-performing loans.
- Trust Title is a new breed of title and settlement service provider for real estate closings and comprehensive loss mitigation solutions. The firm conducts title searches and closes real estate settlements throughout the U.S.
- TT Lender Solutions provides lenders with rapid and profitable recovery solutions for their new construction and light commercial projects through its expert loss mitigation, distressed portfolio services, default and REO services and integration with national title services. Its experienced staff has helped lenders turn more than $1 billion in nonperforming, stalled or defaulted projects into positive cash flow.
The Alliance provides clients with one point of contact which assures quicker turnaround, better accountability, and a more consistent level of service. Clients can outsource their entire REO-related portfolio to the Alliance to ensure a comprehensive, coordinated approach to managing their REO stock for disposition or investment, or simply select the individual services they require to complement their in-house tasks. Clients have the option of selecting a turnkey solution or working with Alliance members to create a unique product line or service to meet their asset acquisition, management and/or disposition needs.
"There are thousands of REO and loan servicing managers who are struggling to keep pace with their distressed loan portfolio as well as distressed property investors who are not getting an adequate level of service from their existing asset management companies. This collaboration offers clients an unparalleled level of expertise and streamlined service," said Tim Landwehr, Senior Vice President and National Sales Manager for TrustTitle. "While some companies have chosen to broaden their scope of services to capture a greater share of market, this alliance unites service providers who have proven success in their fields and demonstrated capacity to meet clients' needs."
Alliance members will be attending several upcoming industry conferences including: REOMAC April 4 - 7 in Palm Desert, California, the 3rd Annual Mortgage Servicing Conference April 6 - 7 in Dallas, Texas and the Texas Mortgage Bankers Association Meeting April 15 - 16 in Frisco, Texas.
Lenders or investors can contact Tim Landwehr at (571) 299-1117 or tlandwehr (at) trusttitle (dot) com or visit the Alliance's website at http://www.ttlendersolutions.com/REO_Asset_Alliance.html to learn more.
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