Statebridge Provides Innovative Investor-Focused Servicing Products

While loan modification efforts keep attracting most of the attention and mortgage servicing resources, signs of the beginning of a recovery add to the industry's uphill struggle to renew mortgage market investor interest.

Statebridge, a new company that will provide "custom, high-touch investor-focused" mortgage servicing options, was recently launched by Denver-based default management and residential collateral valuation services provider Integrated Asset Services LLC to help fill that void.

IAS president and CEO Dave McCarthy describes Statebridge as a new category in itself that represents a "new approach to servicing" based on adaptive risk-based servicing designed to optimize investor success by maximizing return on performing and nonperforming loans. Furthermore, IAS says, it helps create the market for independent surveillance of mortgage securities. Combined with the IAS valuation and REO capabilities, he said, Statebridge's investor-focused servicing "will be the only servicing company to provide a 'one-stop shop' for mortgage servicing that is intensely focused on the needs of investors that have grown out of this new mortgage environment."

Company executives created the firm's servicing practices from the ground up responding to changing industry expectations and demands, the company said.

Statebridge was founded on the principle that a combination of technology, deep industry experience, custom borrower touch and a contrarian view of servicing can make a significant difference in the performance of mortgage portfolios.

Company executives created the firm's servicing practices from the ground up, relying on years of experience in overseeing hundreds of servicers and roughly $3 trillion worth of mortgages.

Statebridge president Kevin Kanouff says his company was designed to work closely with clients "to create a servicing strategy unique to their investment philosophy."

It offers custom special servicing of both distressed and nondistressed mortgages. Statebridge said its experts offer insight on existing mortgages, collateral analysis, fiduciary review, pool-level analysis and pricing advocacy for new investments in mortgages.

Statebridge completes the existing IAS suite of mortgage servicing products that includes REO management and disposition, collateral valuation, conditioned valuation and mortgage due diligence, by bridging the entire loan life cycle, IAS said.

It is a residential asset management solution that serves the best interests of both the borrower and the investor, Mr. Kanouff says.