SAM News
Special Asset Management - A Short Sale Success!
07/15/2010: Asset Management Journal
The report from Clayton Holdings, published recently in DSNews.com, points out that net losses to lenders are reduced by an average of 13% to 26% using Short Sales instead of Foreclosures. With Home Affordable Foreclosure Alternatives (HAFA) processes now defined for loans backed by Fannie Mae, Freddie Mac and non-GSE lenders, SAM occupies a leading position for completing Short Sales in a HAFA-compliant manner.
Prior to HAFA, proposed Short Sales often broke down between borrower and servicer. Their conflicting priorities were compounded by real estate agents who lacked the necessary experience-and patience-to bring a Short Sale to fruition. HAFA provides incentives for all parties to agree on a Short Sale-including junior lien-holders.
SAM's Short Sale process provides the best of all worlds to its clients:
· Oversight of all assigned assets by SAM's skilled executives and staff.
· A managed network of 189,000 agents trained to conduct scripted HAFA compliant discussions in person with delinquent borrowers.
· Fully automated workflow facilitating direct communication between real estate agents and client asset managers.
· Integrated real-time work flow providing quality control on all process components and documentation.
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Special Asset Management - A Short Sale Success!
07/15/2010: Asset Management Journal
The report from Clayton Holdings, published recently in DSNews.com, points out that net losses to lenders are reduced by an average of 13% to 26% using Short Sales instead of Foreclosures. With Home Affordable Foreclosure Alternatives (HAFA) processes now defined for loans backed by Fannie Mae, Freddie Mac and non-GSE lenders, SAM occupies a leading position for completing Short Sales in a HAFA-compliant manner.
Prior to HAFA, proposed Short Sales often broke down between borrower and servicer. Their conflicting priorities were compounded by real estate agents who lacked the necessary experience-and patience-to bring a Short Sale to fruition. HAFA provides incentives for all parties to agree on a Short Sale-including junior lien-holders.
SAM's Short Sale process provides the best of all worlds to its clients:
· Oversight of all assigned assets by SAM's skilled executives and staff.
· A managed network of 189,000 agents trained to conduct scripted HAFA compliant discussions in person with delinquent borrowers.
· Fully automated workflow facilitating direct communication between real estate agents and client asset managers.
· Integrated real-time work flow providing quality control on all process components and documentation.
Back To Newsroom