New Organization Creates Best-of-Breed Platform For Full Suite Of Service Functions
Online PR News – 14-August-2009 – – DENVER, CO–August 12, 2009–National Default Servicing, LLC (NDS), an established provider of default and servicing related solutions to the real estate industry, announced today the integration of its mortgage service operations under the new parent name, The National Groups (www.TheNationalGroups.com).
The newly-formed structure will represent a seamless integration of every function necessary to manage both “at-risk” borrowers and “value challenged” real estate properties for institutional and private asset holders.
Affiliate companies to be combined include: National Default Services, LLC, an outsourcer of asset management, marketing, and disposition of REO properties held by government agencies, institutions, and private investors; National Collections & Loss Mitigation Services, LLC, a full-service default management firm with specializations in short sale and modification services; National Valuation Services, LLC, a nationwide provider of all types of valuation products and valuation quality control services; and National Closing, Escrow, and Title Services Inc., a licensed and regulated closing and escrow services firm.
The consolidation of these industry-respected companies under one banner comes at a time when the housing industry is demanding a single source for complete mortgage services. The National Group’s ‘boutique’ approach to the market provides a one-stop shop solution without sacrificing the nimbleness to its individual service companies.
“The National Groups is an enterprise designed to create a meaningful change in the way the institutional and private investors service their assets,” said Bob Vanderbilt, CEO for The National Groups. “Our combined operations represent a streamlined, cross-functional approach that will achieve a higher degree of efficiency than the affiliates could ever produce individually.”
NDS and its affiliates have been providing customized outsourcing of all REO and Default Services, including Marketing and Pre-Marketing, Closing, Broker Price Opinion (“BPO”), Commercial REO, and Asset Resolution for nearly 25 years, each company proving itself to be peerless in its respective function.
The National Groups will be providing its clients a full suite of customizable services, nationwide resources, flexible technology, and full compliance, a portfolio management methodology Vanderbilt calls “Service Without Boundaries”. The firm’s approach to service delivery, operating systems, and data will consider such aspects as SAS 70 compliance, carbon footprint impact, and conformity with federal debt collection practices. These entities are also licensed to collect debt in all 50 states.
“The combined expertise of The National Groups is an effective response to the volume of distressed borrowers under the HAMP initiative and the significant increase in foreclosed and REO properties nationwide,” says Larry Bird, CMO for The National Groups. “The company represents a veritable ‘who’s who’ of professionals to support these efforts from coast to coast.”
In addition to its consolidated companies, The National Groups has an affiliated relationship with Prestige Properties, a leading real estate brokerage firm with extensive management and sales experience, since 1985.
Corporate headquarters for The National Groups is locating into a state-of-the-art office complex in Glastonbury, Connecticut. Coupled with the firm’s existing west coast operations center in San Diego, California, the new center will enable The National Groups to serve every time zone of the country.
About National Default Servicing, LLC
National Default Servicing performs outsourcing of REO and Special Servicing with a focus on offering the most efficient and flexible service tailored to a client’s needs and objectives. The firm provides a seamless integration by adopting each client’s business philosophy, goals, policies, and procedures in the marketing, management, and disposition of REO. National Default Servicing assists in the management and marketing while overseeing the REO life cycle process in an effort to mitigate client losses and expenses.