LenderLive Network Announces Homeownership Preservation Initiative with PMI Mortgage Insurance Co.
EarlyActionTM service provides
counseling, loss mitigation to borrowers
business process outsourcing and technology provider for the financial
industry, announced a joint initiative with PMI Mortgage Insurance Co.
(PMI) to provide workout solutions to prevent mortgage delinquencies and
“This relationship will create opportunities
for more borrowers to stay in their homes,“
said Rick Seehausen, president and CEO of LenderLive. “We
respect the role PMI has in the industry, and we believe this
relationship will help each company provide the services their
Under the initiative, LenderLive will work with PMI, and the mutual
servicers who service loans insured by PMI, to identify borrowers who
are more likely to default on their mortgages and face foreclosure.
“It’s easier to
develop workout programs for borrowers who are in trouble if you can
address the problems with their mortgages before they start to miss
payments,” said John Jelavich, PMI’s
vice president of Homeownership Preservation Initiatives. “PMI
is committed to the preservation of homeownership, and we eagerly pursue
opportunities to prevent delinquencies and foreclosures through early
intervention services such as LenderLive’s
LenderLive’s EarlyAction program, a service
in the company’s specialty origination
channel, provides counseling services to help with loss mitigation and
portfolio retention efforts. Highly trained personnel contact certain
identified borrowers to determine the level of risk of prepayments or
defaults, complete full financial assessments and qualify homeowners
into alternative loan products or loan modifications, as determined by
About LenderLive Network, Inc.
LenderLive is a Denver-based outsource service provider. Since 1996, the
company has offered the financial industry private-label service and
technology. Through its five business channels, retail, wholesale,
specialty origination, contract services and settlement services,
LenderLive offers the people, technology and process that allow its
clients to focus on their core business. LenderLive management has more
than 250 years of combined experience in the mortgage industry.
For more information about the company and its services, contact Rick
Seehausen 303.226.8001 or visit www.lenderlive.com.
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