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National Asset Management Firm Launches HOA Subsidiary

""MMREM"":http://www.mmrem.com, a national asset management firm for federal agencies and private sector servicers, investors, and insurers, launched its partial subsidiary, Virginia-based ""Sperlonga Data and Analytics"":http://www.sperlongadata.com, last week.

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Sperlonga provides servicers, title agents, real estate brokers, appraisers, and originators with homeowner association (HOA) information.

""After hearing associations being a significant challenge in the mortgage industry again and again, we quickly identified the need to address and provide a valuable solution for our industry,"" said Matt Martin, Sperlonga's chairman.

""With no centralized repository of association data or standardization in managing this process in the industry, we know that the creation of this product and its benefits will provide real value to clients,"" Martin said.

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In addition to access to HOA information and data, Sperlonga provides outsourced management for the clearing and resale certification process, validation of payment during a modification, or non-recorded delinquencies when a servicer is considering a short sale or deed in lieu.

Additionally, the firm offers a centralized repository for associations to submit demands, which Sperlonga will direct to the appropriate party.

""We regularly hear incredible stories of frustration from associations trying to submit demands,"" Martin explained. ""We have heard on many accounts associations taking demands down to the local bank branch to drop it off. Our portal allows for associations to quickly and easily submit demands to the right place and provide our servicing partners the ability to ensure timely payment.""

Agents, title companies, appraisers, and others in the field can also receive credits for importing verified association information via Sperlonga's credit system. When a credit holder becomes dependent on another association's information, they can obtain this information free through Sperlonga.

""Millions and millions of dollars are spent on late and legal fees as well as other assessments due to untimely payments,"" Martin said. ""We are here to bridge the gap and allow our clients to save substantial sums of money and mitigate risk while applying a sound consistent practice.""

About Author: Heather Cernoch

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