LenderLive Network Announces Homeownership Preservation Initiative with PMI Mortgage Insurance Co.

DENVER--(BUSINESS WIRE)--LenderLive Network, Inc., a business process outsourcing and technology provider for the financial industry, announced a joint initiative with PMI Mortgage Insurance Co. (PMI) to provide workout solutions to prevent mortgage delinquencies and foreclosures.

“This relationship will create opportunities for more borrowers to stay in their homes,“ said Rick Seehausen, president and CEO of LenderLive. “We respect the role PMI has in the industry, and we believe this relationship will help each company provide the services their constituencies need.”

Under the initiative, LenderLive will work with PMI, and the mutual servicers who service loans insured by PMI, to identify borrowers who are more likely to default on their mortgages and face foreclosure.

“It’s easier to develop workout programs for borrowers who are in trouble if you can address the problems with their mortgages before they start to miss payments,” said John Jelavich, PMI’s vice president of Homeownership Preservation Initiatives. “PMI is committed to the preservation of homeownership, and we eagerly pursue opportunities to prevent delinquencies and foreclosures through early intervention services such as LenderLive’s EarlyAction program.”

LenderLive’s EarlyAction program, a service in the company’s specialty origination channel, provides counseling services to help with loss mitigation and portfolio retention efforts. Highly trained personnel contact certain identified borrowers to determine the level of risk of prepayments or defaults, complete full financial assessments and qualify homeowners into alternative loan products or loan modifications, as determined by the client.

About LenderLive Network, Inc.

LenderLive is a Denver-based outsource service provider. Since 1996, the company has offered the financial industry private-label service and technology. Through its five business channels, retail, wholesale, specialty origination, contract services and settlement services, LenderLive offers the people, technology and process that allow its clients to focus on their core business. LenderLive management has more than 250 years of combined experience in the mortgage industry.

For more information about the company and its services, contact Rick Seehausen 303.226.8001 or visit www.lenderlive.com.