NCCI Opens Short-Sale Desk

Posted by Orb Staff on June 16, 2010 No Comments
Categories : Mortgage Servicing

orest, Calif.-based National Creditor's Connection Inc. (NCCI) has established a ‘short sales desk’ to help servicers assess whether delinquent borrowers are good candidates for the Treasury's and the government-sponsored enterprises' Home Affordable Foreclosure Alternative (HAFA) programs. As part of the company's short-sale services, NCCI personnel will collect the necessary borrower documents and work with Realtors on arm's-length transactions, says Jay Loeb, NCCI's vice president and principal owner. "Once we have the documents, all parties can roll right into the HAFA program or at least determine where there may be a need to re-contact borrowers to complete the process,’ adds Bart Brainard, director of strategic default management with the company. ‘It may be that we could offer something else entirely to resolve the situation.’ NCCI says that approximately 30% of all the delinquent borrowers' properties it visits are non-owner-occupied and often vacant. SOURCE: [link=http://www.nationalcreditors.com]NCCI

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