Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Co., has introduced a solution to help mortgage servicers meet the requirements of the Home Affordable Foreclosure Alternatives (HAFA) program.
‘Using an experienced and proven [Fair Debt Collections and Practices Act]-compliant Borrower Contact Center and fully integrated workflows, we can handle properties throughout the distressed-asset continuum – loan modification, short sale, deed-in-lieu, foreclosure, asset management and disposition – improving communication among all parties and accelerating transaction completion,’ says Jason Nadeau, SLS president and CEO.
Borrowers can be transitioned from the failed loan modification to a short-sale option, and further on to a deed-in-lieu of foreclosure in the event the short sale is unsuccessful.
To reduce the time for completing a short sale, or implementing a deed-in-lieu, SLS title and settlement teams work up front to identify any potential title issues and necessary third-party payoffs to immediately begin curative title work, the company says.
SOURCE: Stewart Lender Services