Mortgage Retention Center, LLC.

Mortgage Retention Center, LLC will handle every aspect of your negotiation, and prepare a comprehensive loan modification package for your Lender, including but not limited to:

• Financial Prospectus Workout. Detailed to include all income, assets, and all payments you make, down to every cost. This allows a realistic view of your financial abilities to be sure you can continue to make your home payments for years to come once your loan is restructured.
• Full Financial Package prepared for your Lender including:
  • Letter of hardship
  • Cost/Benefit Analysis to your lender
  • Homeowner's Financial Analysis verifying payments you can afford

• Unlimited Negotiations with your existing lender and their attorneys
• Loan Restructuring Proposal. Financial Solutions Group requests specific terms for your new loan. Our request is carefully discussed with you so that you are happy with your new loan.
• Representation on your behalf in dealings with your Lender
• CMA. Comparative Market Analysis of your home. We also do a cross analysis of homes currently listed on the market and in foreclosure in your surrounding area.
• Full-Time, one-on-one customer service for your Status Updates

   

  A loan modification is a change in the loan contract agreed to by the lender and the borrower. The modifications of major concern today are those designed to reduce the payment burden on borrowers faced with impending rate increases that will make the mortgage payment unaffordable to them and those who are currently behind on their payments. Many are sub prime borrowers.

In most cases, the decision on a loan modification is not made by the firm that owns the loan. It is made by a firm servicing the loan under contract to the owner. The owner could be a single lender, or it could be a group of investors who own pieces of a mortgage-backed security collateralized by a pool of loans.  

 Whoever the owner, the servicing firm is contractually obligated to find the solution to payment problems that will minimize loss to the owner. If the lowest-cost solution is a loan modification, great -- everyone involved prefers a loan modification to foreclosure. But if a foreclosure would generate lower costs for the owner, the decision will be to foreclose. The cost of foreclosure to the borrower does not enter the decision.

YET THE DECISION IS FAR FROM CUT AND DRIED, AND IT CAN BE MATERIALLY AFFECTED BY WHETHER AND HOW THE BORROWER PRESENTS HIS CASE.

Perhaps the most important factor affecting the loan modification decision is the amount of equity the borrower has in his property. If the borrower has enough equity in the property to pay any deferred interest plus foreclosure expenses, foreclosure is almost bound to be the lower-cost solution.

Equity depends on property value, which Mortgage Retention Center, LLC is much better positioned to know than the servicer. Mortgage Retention Center, LLC knows or can easily find out how many houses in your neighborhood are for sale and what the trend has been in recent sale prices. In a weakening market, it is easy for the lender to overestimate value, and Mortgage Retention Center, LLC will prevent that.

Servicers fear that if they are liberal in granting modifications, borrowers who don't need a loan modification will seek one anyway. They protect themselves against this by entertaining modification proposals on a case-by-case basis, while placing the burden of proof on the borrower.

Borrowers must accept the burden of proof. In addition to the data on property value, they need to document that they cannot afford the payment increase that is pending, and they must document exactly what they can afford.

For this purpose, Mortgage Retention Center, LLC will calculate your total debt ratio: the sum of mortgage payment, other debt payments, property taxes and homeowners insurance as a percent of their gross income. This number should be calculated now, what it will be after the rate adjustment, and what they will be able to afford.

Servicers have a self-interest in minimizing modifications because they add to costs. They try to minimize costs by computerizing the servicing process to the maximum degree possible, and standardizing customer support procedures so that low-paid and easily trained employees can perform them.

Team

While most firms offer similar services, Mortgage Retention Center, LLC most distinguishing feature is the caliber of the people on our team. In addition to performing high-quality work for our clients, our team members are deeply dedicated to the communities in which we work and live. Continuous learning and personal development is fostered within the culture of the firm.

Our Business

Mortgage Retention Center, LLC goal is to be the employer of choice, famous for the attraction, retention and development of extraordinary people. By providing a culture of continuous learning and personal development, our culture offers:

• Passionate team members who share a love for the profession
• Respect and understanding for a healthy work/life balance
• Urgent obsession with excellence
• Commitment to never stop learning
• High level of engagement
• Teamwork in every sense of the word
• Ethics and integrity that will make us proud
• Consistency between what is said and what is done

Our reputation and brand allow us to recruit the top candidates. Our culture allows us to retain talented professionals and help them achieve their goals.