The National Groups Expands Executive Team

""The National Groups"":http://www.thenationalgroups.com, the parent company of the National Default Servicing, LLC suite of mortgage service operations, announced Thursday that Mitchell Oringer and Richard T. Fikani have joined the firm, filling two new leadership positions.

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In response to the increased volume of distressed borrowers and the growing number of foreclosed and REO properties nationwide, The National Groups has been expanding its efforts to help reduce the exposure of both ""at risk"" borrowers and ""value challenged"" collateral.

Oringer will assume the role of senior managing director of REO and loss mitigation operations for The National Groups. He was most recently with Titleserv National Default in Austin, Texas, where he was SVP of loss mitigation services. Oringer brings with him more than 20 years of experience in the areas of REO and loss mitigation, including senior positions with Indymac Federal Bank, GMAC Rescap, GMAC Mortgage Corporation, and Clayton National, Inc.

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Fikani steps in to the new position of managing director if default services at The National Groups. He also joins the firm from Titleserv National, where he was VP and director of operations. Previously, Fikani was EVP of mortgage for Wachovia Corporation in Charlotte, North Carolina. He held various management positions with the firm in origination and underwriting beginning in 1989.

""Mitch and Richard bring a deep knowledge of REO and loss mitigation to the firm and we're thrilled to have them join us,"" said Bruce Wentworth, senior managing director of The National Groups. ""They're the right people at the right time for the firm and their abilities will go a long way toward accelerating and managing the organic growth of The National Groups.""

The National Groups provides a full suite of customizable default services through technology utilization, including ISIS, the firm's proprietary web-enabled default solution and data warehouse. In addition, the company employs third-party default management software solutions like REOTrans and DRI, by client request. The National Groups says both strategic partners provide the firm with an integrated process flow around loan modifications, short sales, deed-in-lieu of foreclosure, and REO processes.

With corporate headquarters in a new state-of-the-art office complex in Glastonbury, Connecticut and a West Coast operations center in San Diego, California, The National Groups says it is set to serve every time zone of the country.