IMS Expands REO Management Offering with REO Leasing Solutions

Integrated Mortgage Solutions, a third-party provider of asset management services, and the Houston-based REO Leasing Solutions, LLC are joining forces to address rapidly growing loss mitigation and REO challenges in today's housing market. In working with REO Leasing Solutions, IMS will be able to offer additional loss mitigation and REO options to its customer base. "REO Leasing Solutions brings a national perspective to this emerging market," said Cheryl Lang, president and CEO of IMS. According to recent reports, more than 5 million households are behind on their mortgages and risk foreclosure. With unemployment rates hovering near 10% nationwide, the number of distressed borrowers is likely to remain high over the next year. Both companies agree that servicers are in need of solutions that help them manage the increasing volume of defaulted loans on their portfolios. "Ever-changing legislation necessitates uniting with a proven organization that has deep experience in the both the mortgage market as well as property management in the residential market," said Lang. IMS is able to give their investors immediate options, even at their initial due diligence of a distressed portfolio, added Alan Paylor, president of REO Leasing Solutions LLC. REO Leasing Solutions can model a rent/lease option and provide cash flow analysis and ROI on a portfolio or a single loan.