ModCo Launches Unit to Aid Servicers

ModCo LLC, Aliso Viejo, Calif., has announced the launch of a new division aimed at helping mortgage servicers cope with rising foreclosures and changes in mortgage servicing laws. ModCo Solutions puts servicers and lenders in direct contact with borrowers, using loss mitigation strategies and field services with a pre-emptive approach to default servicing, the company said. "As foreclosures reach record levels, the firm seeks to provide the infrastructure for servicers to meet existing and new servicing regulations and reach out to more troubled borrowers before foreclosure is the only option," ModCo said. ModCo Solutions provides property and occupancy inspections along with valuation and tax certification data, with campaigns tailored to meet the needs of each servicer. The new division can be found online at http://www.modcosolutions.com.