LenderLive Network Announces Homeownership Preservation Initiative with PMI Mortgage Insurance Co.

2008-08-05 07:01:00

LenderLive Network Announces Homeownership Preservation Initiative with PMI Mortgage Insurance Co.

EarlyActionTM service provides

counseling, loss mitigation to borrowers

DENVER–(EMWNews)–LenderLive Network, Inc., a

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

foreclosures.

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

constituencies need.

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.

Its 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, PMIs

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 LenderLives

EarlyAction program.

LenderLives EarlyAction program, a service

in the companys 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

the client.

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.

For LenderLive
Charlyne H. McWilliams, 301-933-5567
or
Megan

Ard, 678-781-7223

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