What are the top three lending topics today?
Default resolution. Loss mitigation. Homeownership retention. These are different terms for the same challenge. The threat that homeownership gains will be damaged by rising foreclosures is a real concern, and CrestLossMit is positioned to be part of the solution.
CrestLossMit focuses on 4 necessary steps to success:
  1. Establishing contact with the homeowner
  2. Communicating effectively to explain the options
  3. Restoring the lender-borrower relationship
  4. Completing the essential paperwork
Our Homeownership Retention Counselors (HRC) comprise a national network of multi-lingual default intervention specialists. Using HUD and NeighborWorks materials, HRCs are educated to the highest standards. They work diligently in the local areas, sensitive to the languages and cultural factors involved. HRCs do what no amount of certified mail or door hangers can ever do -- build trust.

Trust is established through courtesy, competence, and communication. The homeowner's situation is documented, options are explained, the lender is contacted, and the opportunity to reinstate the loan is maximized in the shortest possible time.
Our proven process:
  • Intervene Early! We begin to make contact with the borrower who needs help as soon as the loan is delinquent 30 or 60 days.
  • Know the facts! Our Homeownership Retention Counselor documents the specifics of the cause of the default and sends a full report to the loan servicerís Loss Mitigation Department. Proper disclosures about debt collection are signed by the mortgagor, along with a consent form to receive counseling.
  • Customize the solution! Reinstatement options as well as disposition options are explained according to investor and insurer guidelines. The borrower is encouraged to discuss the available choices with the lenderís representative immediately, and to agree on the best approach. The HRC assures borrowers that they may seek additional professional advice, and apprises them of the remaining time deadlines to do so.
  • Document the decision! Once a mutually acceptable resolution is decided upon, our HRC delivers and explains the documents, being careful not to give tax or legal advice. When the borrower is ready to complete the paperwork, it is expedited to the lenderís representative. If more time is needed, the reason is documented and reported, and follow-up continues.
Contact CrestREO Loss Mitigation services professionals today for a customized default intervention strategy. Email: INFO@CrestREO.com or call: 800-289-2736.
For a description of CrestREO Loss Mitigation Services, please download and print the brochure.
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