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NCCI Sees Expansion of Field Service Role with Government Programs

Two government programs that extend new options to homeowners who are unable to make their mortgage payments will lean even more heavily upon field service firms, according to ""National Creditors Connection Inc."":http://www.nationalcreditors.com (NCCI). The California-based company says the role of[IMAGE]these field service providers will expand from basic borrower contact to a targeted evaluation of a borrower's financial condition.

""There is a new emphasis on extending our reach,"" said Jay Loeb, VP and a principal owner of NCCI. ""We'll be helping to assess, on behalf of our servicer clients, whether delinquent borrowers are good candidates for these new programs.""

This greater reliance, Loeb said, comes on the heels of NCCI's success for a large bank client, ""who saw their borrower outreach success rise by 20 percent,"" a metric that ultimately helps servicers meet their home retention goals, he noted.

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One of the new government programs, the Home Affordable Foreclosure Alternative (HAFA) program, which took effect April 5, provides new incentives for servicers, investors, and distressed homeowners to participate in an expedited short sale.

A second initiative, put forth by ""Fannie Mae"":http://dsnews.comarticles/fannie-mae-introduces-alternative-hamp-modification-2010-03-18, requires that all the GSE's servicers consider an ""alternative modification"" option for borrowers who were denied a permanent HAMP mod.

NCCI says this ""alt-mod"" program will rely more on field service firms to contact those borrowers not responding after an offer has been sent. Under the GSE's guidelines, servicers will be required to conduct follow-ups according to a strictly defined government timetable, including a minimum of three additional contact attempts by phone or door knocking between the 15th and 30th day after the offer is mailed.

""The move to a deeper, evaluation level in our interactions with delinquent borrowers will require acquisition and cross-comparisons of detailed data including title reports and broker price opinions (BPOs),"" said Joe Weber, national sales director, NCCI. ""In a real sense we'll be acting as component servicers.""

According to Weber, from the initial door-knock through document retrieval, signature services, and extracting financials, NCCI will play a crucial part in every step of the process, but the company does offer clients the option of picking and choosing which services they want.

""NCCI"":http://www.nationalcreditors.com provides field contact, loss mitigation, and onsite inspection services to financial institutions nationwide.