LenderLive Default Solutions Formed to Support Industry Need for Strategic, Comprehensive Short Sale Services

Mortgage fulfillment provider aligns with others to introduce complete default services offering

DENVER, June 2, 2010 – LenderLive Network Inc., a provider of business process outsourcing and technology to the financial industry, announced today the expansion of its existing loss mitigation initiatives to now include the launch of LenderLive Default Solutions in support of mortgage servicers’ need for a strategic, comprehensive short sale offering.

LenderLive Default Solutions is powered through two LenderLive strategic partnerships: ClearMarkets LLC, a technology-based real estate and loan disposition company, and Keller Williams Global Property Solutions LLC (KWGPS) with KW Commercial. Together, the three parties equip LenderLive Default Solutions with a complete end-to-end solution to address every component of the short sale process.

“Until now, mortgage servicers had to look to separate entities for document fulfillment, asset management and marketing and broker education, often resulting in challenges to efficiently and cost effectively integrate those processes,” explained Rick Seehausen, CEO of LenderLive Network. “LenderLive Default Solutions now eliminates that segmentation to ensure a more uniform workflow and stronger communication for clients, thereby enabling them to better perform in their short sale efforts. What is more, servicers can then translate those successes into benefits for borrowers in terms of providing a timely, appropriate alternative to foreclosure.” 

LenderLive Network represents the back office for LenderLive Default Solutions, offering support for such services as document management and preparation, processing, title and settlement, and compliance. LenderLive has been heavily involved in providing back office services to the nation’s largest servicers since the mortgage crisis occurred, having now processed more than 1.5 million loans for either loan modification or short sale.

ClearMarkets provides LenderLive Default Solutions with the technology for transparent bid management, asset sales and marketing, as well as reporting. Its software enables servicers to take a more systematic approach to short sales and other loss mitigation techniques, focusing on several key structural features to bring greater value to the borrowers and home purchasers. Through four phases – asset discovery, borrower communication, property marketing and closing and settlement – ClearMarkets maintains the national platform and infrastructure to source, analyze, value market and dispose of real estate assets and loans.

KWGPS is the final component within LenderLive Default Solutions, providing full agent training, education and certification, as well as access to Keller Williams Realty’s network of more than 77,000 real estate agents. It also maintains a database of third-party brokers that enables the delivery of a brand-neutral and multicultural real estate broker network. KWGPS supports custom directed client education, short sale lead distribution management, Pre-Foreclosure Specialist Certification (PSC) and an agent locator homeowner referral network.

Seehausen continued, “Servicers face ongoing pressure in their performance of short sale initiatives, particularly with recent emphasis from HAFA, and continue to seek help from outsource providers to quickly meet capacity without sacrificing quality. LenderLive Default Solutions has a complete suite of services to address all of their needs.”

About LenderLive Network Inc.

LenderLive is a Denver-based mortgage service provider. Since 1996, the company has offered the single-family mortgage loan industry with private-label service and technology solutions to originate, process, underwrite and close loans on behalf of its clients. This continued support to lenders and servicers brought LenderLive recognition in 2009 as a Top 50 Mortgage Service Provider by Mortgage Technology Magazine. Through comprehensive solutions or component services, LenderLive offers the people, technology and processes that allow its clients to focus on their core business while LenderLive provides their mortgage loan fulfillment needs. The company provides services to global financial institutions and local community banks and credit unions. With tens of millions of transactions processed through its expansive service offering, LenderLive offers the vision, experience and leadership financial institutions can rely on. For more information about the company and its services, contact Rick Seehausen at 303.226.8001 or visit www.lenderlive.com. 

About ClearMarkets

ClearMarkets is a technology-based real estate and loan disposition company, leading the industry in the disposition of real estate utilizing auction sales techniques. The company has provided private sector companies and government agencies with residential and commercial real estate and loan disposition services for more than 28 years. ClearMarkets has developed a proprietary Internet-based online technology for time broadcast, sealed bid and hybrid auction and virtual due diligence room capability for residential, commercial property and loan pool asset sales. Its revolutionary online short sale solution, LoanFusion©, tracks the entire broker marketing process and maximizes transparency in the offer process. To date, the company has sold more than 150,000 properties with $10 billion in transaction value. For more information about the company and its services, contact Lori A. Shea, executive vice president marketing, at 646.957.9808 or visit www.ClearMKTS.com.

About Keller Williams

Founded in 1983, Austin, Texas-based Keller Williams Realty Inc. is the third largest real estate franchise operation in North America. It has more than 77,000 agents operating in 650 offices across the U.S. and Canada. The KW Commercial Division launched in 2008 as the commercial real estate arm for the organization. Keller Williams Realty is focused on building and offering quality residential and commercial real estate services to its clients while rewarding its agents with a 100 percent compensation model, profit sharing and leadership through national residential and commercial leadership councils.

Keller Williams Global Property Solutions DBA coordinates auction and short sales services accessing the Keller Williams real estate broker network. KWGPS offers the most highly trained agent network for short sales in the nation and coordinates the network of Keller Williams agents throughout the U.S., along with monitoring the training and quality control of all transaction activity.

For more information about the company and its services, contact Stephanie Krank at 310.622.4502 or visit http://www.globalauctionpartners.net.