IRVING, Texas--(BUSINESS WIRE)--iServe Servicing, Inc. (“iServe Servicing”), one of the nation’s leading residential mortgage special servicers of performing, sub-performing, non-performing and bank owned assets, today announced it has received certification for participation in the Department of The Treasury’s HAMP program, effective immediately.
HAMP, a key component of the President Obama administration’s Making Home Affordable Program, was established to help financially struggling homeowners avoid foreclosure by modifying residential loans to a level that is affordable and sustainable for borrowers over the long term.
“Beginning in 2007, the management of iServe Servicing understood the undeniable need to work with homeowners to essentially re-underwrite loans and make every effort to help stabilize their position and promote long-term viability. We have always understood that continued home ownership, whenever possible, is an obvious benefit to the homeowner, but is also a tremendous advantage for the underlying mortgage investor because a successfully modified and performing loan presents significantly more value than a foreclosure,” remarked Chief Executive Officer Richard Cimino. “With a team of highly trained loss mitigators that work a low caseload and use cutting edge technology solutions, we believe we have the right model that can help homeowners maintain their dignity, support home values in communities and let lenders focus on financing future homeowners.”
Added Mr. Cimino, “We are proud to participate in the HAMP program and apply our unique approach to loan servicing and loss mitigation for institutions and private investors that are looking to work within the HAMP guidelines and also for larger servicers that are looking for a specialized partner to help them with component servicing mandates.”
iServe Servicing has significant loss mitigation experience in servicing non-performing, delinquent and sub-performing residential loans with an average of 60+ days delinquency. In order to ensure that homeowners have consistent and direct contact with an experienced servicing specialist, each iServe Servicing loss mitigation specialist manages less than 200 cases at any one time.
About iServe Servicing, Inc.
iServe Servicing, an affiliate of National Asset Direct, Inc., was established in April of 2007 and began boarding its first loans in late 2007. Led by its Chief Executive Officer, Richard Cimino, iServe Servicing uses a customer-centric philosophy coupled with state-of-the-art technology solutions. iServe Servicing’s primary focus is to carefully diagnose the unique conditions of an individual and to encourage resolutions that provide immediate relief, near-term stabilization, and promote long-term viability of retaining homeownership. For more information, please visit www.iservecompanies.com.