Phoenix-based specialty servicer Marix Servicing LLC has developed a new component servicing program designed to assist Hispanic homeowners with the loan modification process.
Marix says the program, the Hispanic Homeowner Outreach Program (HHOP), is designed to assist servicers with advanced techniques to communicate with Hispanic homeowners who are behind on their mortgage payments.
Through Marix and with the knowledge and outreach of the National Financial Services Consortium LLC (NFSC), the supplemental process works in conjunction and alongside existing servicer loss mitigation efforts.
The HHOP is designed to support a servicer's existing process by connecting with at-risk borrowers who need special assistance with language, culture and understanding in order to bring them back on track with their primary servicer, Marix explains.
"Assisting Hispanic borrowers – one of the groups disproportionately impacted by the current stress in the mortgage markets – is very important work," says Rick Smith, Marix's president.
SOURCE: Marix Servicing