CBC Now Offers Foreclosure Services

CBC Companies here has added foreclosure services to its bundle of mortgage offerings with the recent acquisition of five related default servicing companies.

CBC said the acquisitions support the company's goal to be a national leader in mortgage services. The deals include:

* Symetrix, a nationwide network of attorneys and servicing professionals who focus on default servicing needs of the mortgage banking industry.

* Publications Services, a foreclosure publication provider that enables mortgage lenders to comply with California foreclosure regulations by posting notices of default or trustee's sale.

* Specialized Inc. of California, a foreclosure provider specialized in meeting California, Arizona, Nevada and Oregon regulations.

* Specialized Inc. of Virginia, a foreclosure firm specializing in Virginia regulations.

* Specialized Inc. of Washington, which provides the same services and expertise in Washington state.

The five related companies were founded by company president Patti Irvine, who began Specialized more than 15 years ago to process California foreclosures. Today, the companies collectively provide the mortgage industry with nationwide foreclosure services in addition to a specialized services in specific states, CBC companies said.

"These companies fit into our strategic initiative to become a single source provider of mortgage solutions to the industry," said Rich Alexander, business development director for CBC companies. "Research has shown that companies who outsource some or all of their servicing functions are more efficient and have lower personnel costs. The acquisitions enable us to respond to our customers' needs because we can offer them the ability to outsource all their foreclosure services."

CBC's nationwide services now include mortgage credit reports, appraisals and home value estimates, flood zone determinations, property reports, notary signing, title insurance, closing and settlement services, REO property preservation services and foreclosure services.

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