Home / News / Loss Mitigation / LAMCO Bolsters Disaster Recovery Plan for REOs
Print This Post Print This Post

LAMCO Bolsters Disaster Recovery Plan for REOs

""Lenders Asset Management Corporation"":http://www.lendersreo.com (LAMCO), a nationwide REO management company headquartered in Littleton, Colorado, said Thursday that it has enhanced its[IMAGE]disaster recovery plan, which details LAMCO's procedures for responding to emergency situations that could potentially threaten service level agreements.

The company explained that its disaster recovery plan is designed to facilitate timely recovery of business functions, minimize loss, and maintain public image and reputation for owners of REO properties when faced with disruptive natural disasters or accidents.


LAMCO's multi-pronged plan takes into account recovery teams; human resource assistance; administrative support such as food, travel and lodging for recovery staff; finance issues such as ordering of equipment or supplies; and recovery communications. It also provides for the establishment of remote command centers, a site recovery plan, and a business application recovery plan, including checklists of duties for each recovery team member.

""By developing a comprehensive disaster recovery plan, LAMCO ensures that the organization is fully prepared and equipped to deal with any type of disaster, be it a fire, natural disaster, or any other situation that may be unexpected,"" said Brandon J. Hawkes, CEO of LAMCO. ""We take the necessary precautions to give our clients and their customers peace of mind that they are constantly protected at any state in time.""

Founded in 1989, LAMCO delivers customizable REO solutions that the company says enable lending institutions, servicers, investment firms, and insurance entities to scale operations and liquidate REO assets with mitigated risk. The full-service company monitors and manages the entire REO default process, from initial legal action through the sale of the property.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

Check Also

Annual Rent Growth Slows to Nearly Two-Year Low

January marked the lowest rate of home appreciation since the spring of 2021, declining for the ninth straight month to 5.7%. Meanwhile, Orlando, Florida posted the country’s largest annual gain for the third consecutive month.