iServe Servicing Inc., a special servicer of performing, subperforming, nonperforming and bank-owned assets, has received certification for participation in the Treasury Department's Home Affordable Modification Program (HAMP), effective immediately. The shop's HAMP incentives are initially capped at $28.04 million, according to the Treasury's latest transaction report.
‘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,’ says Richard Cimino, iServe Servicing's CEO.
The Irving, Texas-based company, an affiliate of National Asset Direct Inc. that began boarding its first loans in late 2007, emphasizes low loss mitigation caseloads. Loss mit negotiators work fewer than 200 cases at any given time, the company says.
SOURCE: iServe Servicing