Saturday, May 24, 2008
Have you been asked to repurchase a loan because the borrower defaulted on the mortgage or for some other reason?
According to Consumer Mortgage Reports, hundreds of companies nationwide have ceased operation because they were unable to fulfill their oblication to repurchase loans that had gone delinquent, after being sold on the secondary market. Companies such as "Ownit Mortgage," with shares owned by industry giant, Merrill Lynch and Company), was forced out of business after concluding that their mission to provide more affordable mortgage options to homebuyers,' had failed. Industry professionals stated that the company ran out of cash to fulfill their repurchase requests.
If you have been asked to repurchase a loan, (or have other loan purchase challenges), en pointe consulting can help, before you pay expensive attorney fees. We have a proven ability to:
According to Consumer Mortgage Reports, hundreds of companies nationwide have ceased operation because they were unable to fulfill their oblication to repurchase loans that had gone delinquent, after being sold on the secondary market. Companies such as "Ownit Mortgage," with shares owned by industry giant, Merrill Lynch and Company), was forced out of business after concluding that their mission to provide more affordable mortgage options to homebuyers,' had failed. Industry professionals stated that the company ran out of cash to fulfill their repurchase requests.
If you have been asked to repurchase a loan, (or have other loan purchase challenges), en pointe consulting can help, before you pay expensive attorney fees. We have a proven ability to:
- Quickly identify and assess strengths and weaknesses
- Implement timely, cost-saving solutions
- Build a rapport between brokers and their investors
- Persuade and convince
- Get your loans purchased and have repuchase requests reduced or rescinded
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