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Mortgage Industry Experts Help Save Lenders from Catastrophe
Mountain Lakes, NJ (PRWEB) August 13, 2007 -- Repurchase Resolution Specialists, Inc., a mortgage industry consulting and services provider established in February 2007 as a direct response to the growing catastrophe of the collapse of the residential mortgage market, has seen its stable of clients grow significantly in the past few months.
The company is operated by mortgage industry professionals, is staffed by industry insiders and banking lawyers, and helps lenders and brokers craft loss mitigation strategies in the face of borrower defaults and investor buyback demands.
RRS reviews investor agreements, analyzes default and fraud files, and writes detailed buyback defense letters. They also construct step by step loss mitigation strategies which they then implement to dispose of real property, and collect on insurance claims against negligent professionals. When those efforts fail, their staff attorneys file lawsuits against borrowers, Realtors, settlement agents, appraisers, and even loan officers, who are the cause of a loan default. The repurchase experts will also conduct on-site evaluations of lenders' internal quality controls to suggest ways to encourage and improve good loan origination practices, and also detect borrower misrepresentations and loan fraud before they result in costly defaults.
Fees vary, but range from fixed amounts for certain basic services, such as letter writing and file analysis, to hourly charges for intense loss mitigation efforts.
So far reviews of their efforts have been very positive.
Paul Loiacono, President of Montgomery Mortgage Capital said, "When we were victimized by TPO fraud, RRS tracked down the responsible professionals and recovered our losses of more than $175,000."
New Jersey based US Mortgage Corp. was RRS' first client. CEO Michael McGrath had this to say about the company, "Repurchase Resolution Specialists have become our trusted source for EPD defense and loss mitigation services. Their efforts over the past several months have helped us to maintain one of the lowest post-sale repurchase records we've ever had in over 10 years in business."
According to California based Icon Residential Capital LLC, RRS has been "A valuable industry partner offering vast legal and banking experience and effective methods of loss mitigation and recovery strategies."
RRS has also recently partnered with Northeast accounting giant, JH Cohn, to provide mortgage services to their clients as well. Roberta Janel, Managing Director at the company says, "RRS is a valuable loss mitigation partner offering highly effective skills that get the job done for our mortgage industry clients."
RRS President Andrew Liput believes that the recent market correction affecting the industry is only temporary, however the company's broad range of services make them, "the perfect partner to accompany lenders and brokers into the next boom period."
To learn more about Repurchase Resolution Specialists, or to schedule a free consultation, visit their website at www.RepurchaseSpecialists.com, or call toll free 1-888-424-3728.
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