Carrington Mortgage Services and State of Ohio Collaborate to Aid Ohio Homeowners Facing Foreclosure

• Agreement to Work Together Brings Final End to Litigation Process

SANTA ANA, Calif.--(BUSINESS WIRE)--Carrington Mortgage Services, LLC (CMS) is pleased to announce an agreement with the State of Ohio to work collaboratively on behalf of Ohio homeowners facing difficulties with their mortgage. This agreement brings final resolution to litigation that began in 2009.

“Instead of focusing our energies on litigation, we will be working together to continue what we have been accomplishing for our consumers all across the country: offering best-in-class servicing and providing a loan modification and loss mitigation process that is as simple and seamless as possible.”

“Combining the effort and resources of CMS and the State of Ohio to further the goal of assisting Ohio homeowners makes great sense,” said Dave Gordon, chief operating officer of Carrington Holding Company. “Instead of focusing our energies on litigation, we will be working together to continue what we have been accomplishing for our consumers all across the country: offering best-in-class servicing and providing a loan modification and loss mitigation process that is as simple and seamless as possible.”

The program to be implemented by Carrington Mortgage Services in the State of Ohio includes providing a single point of contact for applicants completing and submitting a loan modification package and temporarily suspending any foreclosure activities that may be underway while such package is being evaluated.

The State of Ohio announced the program with this statement from Attorney General Mike DeWine: “This agreement will help Ohioans obtain affordable modifications to allow them to stay in their homes. We are pleased that Carrington Mortgage Services has worked with our Office and is committed to helping Ohio homeowners avoid foreclosure.”

Having modified loans for a majority of its consumers, and earning one of the highest success rates among servicers for completing final loan modifications under the Home Affordable Modification Program, CMS remains committed to helping homeowners avoid foreclosure through a suite of available loss mitigation alternatives.

About Carrington Mortgage Services

Carrington Mortgage Services, LLC (CMS) operates two loan servicing locations that together provide integrated full life cycle mortgage loan servicing support to borrowers and investors. Carrington Mortgage Services creates value for borrowers and investors by preserving home ownership through programs that support borrowers and their ability to stay in their homes. Focusing on its key competencies, CMS seeks to deliver exceptional customer care.

Carrington Mortgage Services is an indirect subsidiary of Carrington Holding Company, LLC. Founded in 2003, the Carrington family of companies has evolved from a mortgage credit asset manager into a vertically integrated specialty finance company. Together, the Carrington family of companies directs every aspect of the life cycle of single-family residential assets - from investment and origination through asset management and disposition. The Carrington family of companies now includes more than 80 local real estate, mortgage lending and servicing, property management and property preservation offices nationwide.