Services

This report is the minimum you should know before even speaking to a client about a modification.

Below you will find a “snap shot” of some of the modification terms that have been performed that we have found in a borrowers specific pool.

What you get with this report that you need to know:

Facts for the borrows specific securitized pool of loans:

  • How many active modifications are in the client’s pool
  • What interest rate reductions have been performed
  • What payment reductions have been applied
  • What capitalizations have been performed
  • Whether Principal Reductions/Forbearance is allowed
  • What amortization changes have been made
  • What was the lowest interest rate given
  • Whether multiple modifications have been reported
  • Whether borrower’s loan has been previously modified

Additional Info being reported:

  • Loan status being reported
  • Original Loan amount
  • Actual Loan balance
  • Current Interest rate
  • Current Principal and Interest Payment or IO payment.
  • Paid Through Date
  • Active Loans, Foreclosure, Bankruptcy and REO

Disclosures:

  1. If the loan is not in securitized trust that reports we will not find data.
  2. Servicers may change the types of modifications they are doing with a specific trust, the report only shows you what has been done in the past.
  3. This report should not be used as a “silver bullet”.  It should be used as a part of a sound review of borrowers total circumstances when you are setting realistic expectations for a borrower.
  4. No consult time is provided with this basic report.  It is only a factual presentation of data that has been reported to Trustee of Pools.  No exceptions.
Designed for:

Attorneys (Foreclosure and Bankruptcy), Attorney’s Staff, Housing Counselors and Non-Profits who do not have the time, staff or expertise to prepare a complete Loss Mitigation Analysis or Denial Analysis.

You provide relevant documents and we review borrowers for eligibility.   This analysis is tailored to your client specific investor and servicer.   We do not use a computer program to complete this report.  This report is customized for your clients specific situation and gives them a clear understanding of their current situation and helps set realistic expectations.  If we do not have actual experience with the Servicer or Investor we will not charge for the analysis.

Designed for:

Attorneys (Foreclosure and Bankruptcy), Attorney’s Staff, Housing Counselors and Non-Profits who do not have the time or staff to prepare a complete Loan Modification Application.

We will gather all required documents from your client and complete the application to the servicer. We can complete applications with no review or follow up. This can be a flat fee service (stand alone agreement)  with no additional contractual agreement. Or it can be a flat fee service with a review of your Loss Mitigation Analysis, plus preparation of loan modification application.

We can also provide all follow up on a monthly basis to lender, respond to any request they have at anytime, and provide you with a monthly update via email.  We will only do follow up on files that we have completed a Loss Mitigation Analysis.

Designed for:

Attorneys (Foreclosure and Bankruptcy), Attorney’s Staff, Housing Counselors and Non-Profits who do not have the time or staff to follow up on applications monthly.