Atlanta-based ""Chrisley Asset Management"":http://www.chrisleyam.com/, a full-service REO management company, announced Wednesday the integration of short sales and loan modification services to its clients, streamlining the process for lenders and borrowers while increasing overall efficiency with a low-cost and reliable solution.[IMAGE]
The company said its new loss mitigation services are the first to be deployed through an agreement with a leading industry technology and systems provider. Through this new offering, Chrisley Asset Management hopes to enable lenders to focus on their core objectives by assisting them with the management of their short sale and loan modification processes.
Michael Todd Chrisley, owner and founder of Chrisley Asset Management, said his company seeks to represent and respect all parties. The company strives to provide attorneys with pertinent information and its clients with the utmost service. He said the goal of Chrisley Asset Management is to manage each asset as if it affects the company's own bottom line, all while valuing the individual borrower.
As many clients are looking for alternatives to foreclosure, the move into loan modifications and short sales has been an ever-growing need for lenders over the last few years, Chrisley Asset Management said. The volume of REOs continues to be a growing issue, and short sales are increasingly being turned to avoid this fate. According to the Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions in August 2009, 11.8 percent of all home sales were short sales.
Chrisley Asset Management said its short sale services will be an extension of the same level of service already dedicated to REOs, which has made the company a trusted name within the industry. The company's new role will be to act as a liaison between the different intermediaries in the transaction.
Through its partnership with mortgage market participants Consumer Credit Counseling Service and HOPE NOW, Chrisley Asset Management believes it is positioned to successfully negotiate on behalf of the loan servicer and the borrower. As a result, this offering will assist the servicer in low-cost, effective default servicing and help the borrower sustain ownership of the property.
""The REO market is very dynamic, and the rise in loan workout plans and short sales is no different than much of the expansion we have historically seen,"" Chrisley said. ""Our goal at Chrisley Asset Management is still the same, and that is to offer clients a streamlined approach for dealing with toxic assets. Our company focus is to be pro-active, and we are excited to be entering a new arena where we can foresee a significant difference that benefits borrowers and lenders equally.""