Press release from Business Wire
CORRECTING and REPLACING Stewart Lender Services Passes Loss Mitigation Milestones
Tuesday, May 11, 2010
CORRECTING and REPLACING Stewart Lender Services Passes Loss Mitigation Milestones10:19 EDT Tuesday, May 11, 2010 HOUSTON (Business Wire) -- First graph, second sentence of release should read: During the past year the company has processed more than 725,000 distressed mortgage loans and generated more than one million lines of outreach to delinquent borrowers (sted generated an outreach to more than one million delinquent borrowers). The corrected release reads: STEWART LENDER SERVICES PASSES LOSS MITIGATION MILESTONES Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, has proven to be a strong, stable and large-scale provider of loss mitigation services for mortgage lenders and servicers. During the past year the company has processed more than 725,000 distressed mortgage loans and generated more than one million lines of outreach to delinquent borrowers. Stewart Lender Services' Home Retention Services division specializes in helping servicers reach out to struggling homeowners with solutions for their mortgage debt problems. The company's experienced management, dedicated and disciplined staff and FDCPA-compliant loss mitigation center can quickly react to constantly evolving market conditions and various government programs designed to assist at-risk borrowers. “These are unprecedented times in the mortgage industry,” said Jason Nadeau, president and CEO of SLS. “The number of problem home loans keeps increasing, while at the same time federal and state programs are being regularly introduced or modified. The experience and flexibility of our home retention teams enable our customers to provide distressed borrowers with all the tools available.” Stewart offers a full suite of services for lenders, servicers and investors to help them effectively manage throughout the entire default continuum from loss mitigation to asset disposition. More importantly, Stewart's solution is designed to evolve in close concert with the market's dynamically changing environment. “Our approach to partnering with our customers is unique in both its design and success,” said Laurie Pyle, executive vice president of SLS. “We've truly become an extension of our customers' operations, but with a dynamic and flexible technology often missing in larger servicing operations.” About Stewart Lender Services Stewart Lenders Services (SLS), a wholly owned subsidiary of Stewart Title Company, is a nationwide provider of centralized origination, loss mitigation and REO asset solutions for mortgage lenders and servicers. With more than a century of experience matched with the industry's leading technologies, SLS helps lenders and servicers meet the rapidly changing demands of today's market. SLS has the financial strength, industry knowledge and proven flexibility to perform throughout the lifecycle of a loan. More information can be found at http://www.stewartlenderservices.com. About Stewart Stewart Title Company, a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), provides a single point of contact for U.S. and multinational customers that require special expertise in closing and underwriting for single and multi-site commercial transactions. Stewart is a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com, subscribe to the Stewart blog at http://blog.stewart.com or follow Stewart on Twitter @stewarttitleco.