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LAMCO Launches REO Services Scalability Initiative

In an effort to prepare for the mortgage industry's high volume of foreclosures that are expected to occur throughout 2010, Lenders Asset Management Corporation (LAMCO), a full-service default asset management company based in Littleton, Colorado, announced the development of its REO Services Scalability Initiative.

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""Currently there are approximately 7 million homes in default, that are known as the mortgage industry's ""shadow inventory"" of at-risk properties, and when the mortgage resets start hitting in the coming months, the

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industry can expect many of these homes to go into foreclosure,"" said Brandon J. Hawkes, CEO of LAMCO. ""In preparation for the anticipated spike in foreclosures, LAMCO has launched our REO Services Scalability Initiative to structure, organize, and plan for the expected influx of homes that will face foreclosure and efficiently scale operations to maintain the properties and identify new homebuyers as quickly as possible.""

The program involves providing ongoing training to existing staff, hiring new personnel, completing the expansion of its current office space, setting up additional facilities to further accommodate its national coverage, and continuing to build up its nationwide network of approximately 25,000 vendors providing REO services.

Through this new initiative, LAMCO will be able to manage its staff and REO vendors in order to achieve maximum levels of performance, and it will enable the company to collectively leverage skill sets to cost-effectively increase and expand REO operations to support its current client growth and new customers. In addition, this system ensures data security and full compliance with local and national regulations.

About Author: Brittany Dunn

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