US HomeSavers Loss Mitigation Blog

Hello all,You are receiving this e-mail because you didn’t make my sh*tl*st and I want to share some information with you should you still have an interest in the third party loss mitigation business.

The government’s meddling in sub prime mortgage issues makes legitimate, third party loss mitigation services more vital than ever in terms of our role as consumer advocates. Distressed homeowners have to watch out for loan modification/loss mitigation scammers, the worst of whom may be their own lenders or servicers. It’s sad but true. Roughly half of the loan modifications I look at are those from homeowners who attempted to negotiate their own loan mods that are full of errors and omissions OR they are not really loan mods at all. It’s a scandal that no one is really aware of UNLESS you are an industry inside. 

As you have all experienced, taking good loss mitigation applications and getting paid in a timely manner can be challenging, to say the least. Our new system makes loss mitigation a lot easier and more profitable as we have automated the pre-qualification process and we now have experienced, major bank trained loss mitigation specialists on board that essentially allows us to work out of the lenders’ and servicers’ own playbook. 

Although the last year or so has been challenging to say the least, US HomeSavers keeps plugging along. We’ve made some changes in staffing and technology over the last couple of months that vastly simplifies the application/approval process which, as you all know, I hold to be of paramount importance in our efforts to bring reality and results into the loss mitigation business. We have instituted an US HomeSavers Loss Mitigation Reseller Program whereby you can offer homeowners fixed price loan modification services at super competitive rates that can be fully guaranteed, partially guaranteed or not guaranteed as part of the loan modification pre-qualification process. There are no upfront costs for you to become a Reseller. 

You will be supplied with a Bank Qualification datasheet which is primarily an Excel Spreadsheet modeled after the industry standard software used by the big banks to determine homeowner eligibility for home retention programs. All you have to do is get your customer to complete the pre-qual app or you do it for them. (preferred). E-mail it to me for a QC Check and our processing department will either approve the pre-qual or deny it in 24 hours. If we decline the application, you realtors should be sharp enough to get the pre-foreclosure sale listing which will most likely be a short sale. Short sales will be processed under the new CDPE standard for which you will receive instructions and the forms needed.

If the application is approved, your job is to collect the required documentation and the service fee “deposit” from your customer. Once the formal application is submitted and accepted by the processing department. Let me close for now with two important items of note. 1) I got 14 out of 16 loan mods approved last Friday representing just under $21,000 in gross revenue and 2) if you have any interest taking advantage of this free opportunity, you need to join my Loss Mitigation Reality Group at http://finance.groups.yahoo.com/group/Loss-Mitigation-Reality then complete the attached Reseller Application documents attached to this e-mail. Dutch, you are exempt but call me so I can get you entered into the system.  

Thanks,

Curt