Paradigm Introduces 3rd-Party REO Servicing

Paradigm Default Services LLC, Denver, has announced the introduction of third-party servicing of real estate owned designed to serve clients and investors "awash in a sea of subprime foreclosures." The company said it is creating a special default servicing unit that will provide "cradle-to-grave, hands-on" servicing, taking loans from their initial default to reperformance or liquidation. Paradigm said it acts as a third-party facilitator between lenders and real estate brokers around the nation to ensure that the details of local asset management -- taking possession of foreclosed property, readying it for sale, marketing it, and closing the sale -- are "capably discharged without liability." The company can be found on the Web at http://www.paradigmdefaultservices.com.