Nationwide REO Brokers Offers Third-Party Foreclosure Reviews

""Nationwide REO Brokers, Inc."":http://www.nreob.com (NREOB) unveiled a new service for lenders and servicers Wednesday, offering independent loan-level foreclosure reviews and legal opinion.
[IMAGE] Due to the ever increasing complexities surrounding the foreclosure process, particularly in NREOB’s home state of Massachusetts, the company has expanded its service offerings to include a complete foreclosure document evaluation performed by attorneys and supervised paralegals.

“Our staff is exceptionally qualified to provide thorough title and document review, based upon 20-plus years of experience providing third‐party oversight of our clients’ foreclosure attorneys,” NREOB explained.

Upon reviewing individual cases, NREOB attorneys will provide a summary legal opinion, which will include recommendations for curative actions, if required.

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In addition, NREOB can provide statistical information to support lenders and servicers’ analytics, which the company says is key to identifying trends within internal foreclosure departments.

NREOB maintains that performing a forensic foreclosure review is not just proactive, but necessary to quantify and mitigate the risks associated with improper foreclosures.

The risks today for lenders and servicers extend beyond penalties that could potentially result from inquires by the Treasury Department or state attorneys general, according to NREOB.

The company points to a Massachusetts Supreme Court case as evidence of the broad implications that come with questionable foreclosure practices.

In the recent state Supreme Court ruling on _Bevilacqua vs. US Bancorp (10‐2011)_, NREOB says the majority opinion casts doubt upon the title of all subsequent owners of bank‐owned properties.

Nationwide REO Brokers, Inc. is a full‐service, default solutions provider for institutional sellers and private investors.

NREOB currently has in place an affiliated legal department staffed with Massachusetts licensed real estate attorneys, paralegals, and administrators, all trained in foreclosure protocols and title review.