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Zenta Launches HAFA-Compliant Short Sale Program

Further expanding its existing range of default management services, ""Zenta"":http://www.zenta.com/, a knowledge process[IMAGE]

outsourcing and business process outsourcing company based in Charlotte, North Carolina, announced Wednesday that it has successfully implemented an end-to-end short sale program that is fully compliant with the administration's Home Affordable Foreclosure Alternatives (HAFA) program.

""Despite all of our success with HAMP and loan modifications, we knew that was a temporary situation; identifying the next wave of workouts was something we've worked closely on with our servicing and investor partners,"" said Henry Santos, SVP of Zenta's residential mortgage services practice. ""Investing in the HAFA platform was a natural progression for Zenta.

According to Zenta, this workflow-based process management system is customized to adhere to the latest

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HAFA guidelines and timetables. The company said HAFA documents are all pre-populated within the platform with data entered in the workflow process, and HAFA data fields required in monthly reports to Fannie Mae are maintained for ease in reporting and tracking.

Other key functions of the platform include online offer management, Fair Debt Collection Practices Act-compliant facilities and workforce, and non-HAFA recommendations, Zenta said.

""HAFA is just the next program to execute on; we're focused on providing the entire suite of critical default management processes that allow our servicers and investors to more effectively control their costs, maintain regulatory compliance, and generally get a better handle on their distressed asset portfolios,"" Santos said. ""We've been providing these services as individual, tailored support to our customers for years now and believe the time is right to make them available to a much broader audience.""

Zenta said its support services for default management include a broad and comprehensive set of capabilities that can enhance the operational effectiveness of residential mortgage servicers in a variety of areas. The company said these services can be used for support in early and late-stage collections , complete loss mitigation program management, investor delinquency reporting, foreclosure file management from referral to sale of property, bankruptcy processing and management, claim filing, loss analysis, and default mortgage servicing consulting and training.

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