As we enter the sixth year of the current US housing crisis, it is clear that mortgage risk owners, as well as state and local government agencies, need a series of new, innovative and cost-effective methods to quickly provide help to at-risk homeowners.
Rumson, NJ (PRWEB) December 20, 2012
Loan Value Group LLC (LVG) today announced that its private label, residential mortgage incentive and connectivity strategies are now being applied on loans with outstanding balances of more than $6 billion. At the same time, the company noted that it launched eight new programs in 2012, increasing the number of ways that lenders, servicers, insurers, investors and, now, state housing authorities can connect with, educate and assist homeowners.
LVG’s flagship Responsible Homeowner Reward® program continues to provide significant value and leverage for homeowners and risk owners.
The 4th quarter of 2012 saw the introduction of three specialized LVG programs:
*HHF Outreach, Education and Fulfillment Programs: With nearly $7 billion of the $7.6 billion allocated by the U.S. Treasury Department to Hardest Hit Fund states unspent, LVG can provide a turn-key platform to help. HHF state administrators can now identify, reach and assist homeowners with the documentation and direction necessary to provide consumer relief under the terms of their programs.
*Private Label Operating Platform: Mortgage lenders and servicers continue to face unprecedented operational challenges while attempting to execute both private and government mandated modification and refinance programs. LVG can augment their operating capacity for many of these specialized initiatives at a low variable cost, with minimal operational risk and without burdening the servicers existing operational infrastructure.
*Accelerated Mortgage Curtailment Program: Many financial institutions currently hold a significant number of 2nd liens for which curtailment of principal – either partially or in full – would be viewed favorably by both regulators and investors. LVG can provide a simple solution to help drive curtailment payments for these impaired loans at a significantly accelerated rate.
“As we enter the sixth year of the current US housing crisis, it is clear that mortgage risk owners, as well as state and local government agencies, need a series of new, innovative and cost-effective methods to quickly provide help to at-risk homeowners,” said Frank Pallotta, Managing Partner of Loan Value Group. “LVG continues to be the market leader in providing these tools to the industry.”
About Loan Value Group
Founded in 2008, Loan Value Group, LLC is a large scale, turn-key provider of private label, residential mortgage incentive strategies that have a positive and lasting impact of consumer payment behavior. LVG’s incentive programs and operation platform are designed to help realign the long-term interests of homeowners, residential mortgage risk owners, State and Local Municipalities and mortgage servicers to the benefit of all. Based in Rumson, New Jersey, LVG is the creator and exclusive provider of the Responsible Homeowner Reward® program, named one of the "50 Best Inventions" by TIME Magazine.
212-537-5177, Ext 7