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.
