Contact Information: Contact: Dan Mahoney CSG|PR 970-405-8060
Leading Provider of Mortgage Servicing Solutions Combines Affiliate Operations Into One-Stop Shop
New Organization Creates Best-of-Breed Platform for Full Suite of Service Functions
| Source: The National Groups
DENVER, CO--(Marketwire - August 13, 2009) - National Default Servicing, LLC (NDS), an
established provider of default and servicing related solutions to the real
estate industry, announced today the integration of its mortgage service
operations under the new parent name, The National Groups
(www.TheNationalGroups.com).
The newly formed structure will represent a seamless integration of every
function necessary to manage both "at-risk" borrowers and "value
challenged" real estate properties for institutional and private asset
holders.
Affiliate companies to be combined include: National Default Services,
LLC, an outsourcer of asset management, marketing, and disposition of
REO properties held by government agencies, institutions, and private
investors; National
Collections & Loss Mitigation Services, LLC, a full-service default
management firm with specializations in short sale and modification
services; National
Valuation Services, LLC, a nationwide provider of all types of
valuation products and valuation quality control services; and National
Closing, Escrow, and Title Services Inc., a licensed and regulated
closing and escrow services firm.
The consolidation of these industry-respected companies under one banner
comes at a time when the housing industry is demanding a single source for
complete mortgage services. The National Groups' 'boutique' approach to the
market provides a one-stop shop solution without sacrificing the nimbleness
to its individual service companies.
"The National Groups is an enterprise designed to create a meaningful
change in the way the institutional and private investors service their
assets," said Bob Vanderbilt, CEO for The National Groups. "Our combined
operations represent a streamlined, cross-functional approach that will
achieve a higher degree of efficiency than the affiliates could ever
produce individually."
NDS and its affiliates have been providing customized outsourcing of all
REO and Default Services, including Marketing and Pre-Marketing, Closing,
Broker Price Opinion ("BPO"), Commercial REO, and Asset Resolution for
nearly 25 years, each company proving itself to be peerless in its
respective function.
The National Groups will be providing its clients a full suite of
customizable services, nationwide resources, flexible technology, and full
compliance, a portfolio management methodology Vanderbilt calls "Service
Without Boundaries." The firm's approach to service delivery, operating
systems, and data will consider such aspects as SAS 70 compliance, carbon
footprint impact, and conformity with federal debt collection practices.
These entities are also licensed to collect debt in all 50 states.
"The combined expertise of The National Groups is an effective response to
the volume of distressed borrowers under the HAMP initiative and the
significant increase in foreclosed and REO properties nationwide," says
Larry Bird, CMO for The National Groups. "The company represents a
veritable 'who's who' of professionals to support these efforts from coast
to coast."
In addition to its consolidated companies, The National Groups has an
affiliated relationship with Prestige Properties, a
leading real estate brokerage firm with extensive management and sales
experience, since 1985.
Corporate headquarters for The National Groups is locating into a
state-of-the-art office complex in Glastonbury, Connecticut. Coupled with
the firm's existing west coast operations center in San Diego, California,
the new center will enable The National Groups to serve every time zone of
the country.
About National Default Servicing, LLC
National Default Servicing performs outsourcing of REO and Special
Servicing with a focus on offering the most efficient and flexible service
tailored to a client's needs and objectives. The firm provides a seamless
integration by adopting each client's business philosophy, goals, policies,
and procedures in the marketing, management, and disposition of REO.
National Default Servicing assists in the management and marketing while
overseeing the REO life cycle process in an effort to mitigate client
losses and expenses.