Irvine, Calif.-based MOS Group Inc. has expanded its loss mitigation services to include short-sale and deed-in-lieu processing that complies with the Treasury Department's Home Affordable Foreclosure Alternatives (HAFA) program requirements.
Under HAFA, all homeowners that do not qualify for a Home Affordable Modification Program (HAMP) loan modification must be considered for participation in the HAFA program before a lender forecloses. Government-sponsored enterprises Fannie Mae and Freddie Mac recently announced their own versions of the program.
“The process of transitioning borrowers from the hope of securing a loan modification to the reality of letting go of their homes through a short sale or deed-in-lieu is a sensitive one,” says Greg Hebner, president of MOS Group, adding, "Even more so than the HAMP process, HAFA transactions require not only efficient and structured methodology, but also compassionate and empathic communication.”
MOS Group is a fully licensed debt collector, meaning it is able to conduct all facets of borrower outreach, from the initial denial or fallout from HAMP through final liquidation and resolution. The company says it provides a single point of contact for the servicer throughout the loss mitigation process.
MOS Group has worked with over 250,000 HAMP borrowers and assisted in completing over 60,000 permanent HAMP modifications. The company says its clients have consistently led the monthly U.S. Treasury’s Servicer Performance Reports in terms of servicer performance.
