Project Background
A Mortgage Lender (Non-Bank) client wanted to liquidate $10-$15B in loans held in their investment portfolio. The loans were underperforming 9-12-year-old loans with regulatory compliance issues. The engagement was to review the loans and resolve, where possible, issues to enhance the sale value, with a primary focus on title curative and modifications.
Services & Solutions
Preparation for the bulk sale of the residential mortgage pool of loans required:
-
- Compliance standards review of residential loan files
- Modifications
- Title Curative, such as:
- Land Description
- Recordation
- Failure of Acknowledgments
- Death, Wills, Intestacy
- Marital Interests, Divorce Decrees
- Joint Tenancies, Life Estates
- Mortgages, Tax Liens
- Prepare Deeds in Lieu
- Negotiate pay-off of Prior Liens; and, Fund when necessary
Outcome & Results
The remote staff of 18, examined and completed file review for compliance accuracy; and, where necessary cleared title imperfections (liens, judgments, and missing assignments) for best possible delivery value. Final report confirmed the validity of collateral documents, the chain of title and proper ownership.