Halo Portfolio Advisors to Provide Hedge Fund with Mortgage Workouts

Halo Portfolio Advisors, LLC, a subsidiary of ""Halo Companies, Inc."":http://www.haloco.com, has contracted to provide home retention services to a hedge fund operating in the distressed mortgage arena.

[IMAGE]

Halo did not disclose the name of the hedge fund, but said it is locally-based in the Dallas area, where Halo is also headquartered.

Halo says its services will improve the performance of the fund’s distressed debt portfolio. The company explained that it will attempt to work out the fund's non-performing loans by utilizing a complete suite of consumer financial products, including loan modification, short sales services, refinancing, credit repair, and unsecured debt settlement.

Halo's in-house technology team will also provide a proprietary customized software platform that the company says allows for a higher level of efficiency and communication.

[COLUMN_BREAK]

""We are excited about the opportunity this provides Halo to demonstrate our capabilities as a consumer financial solutions provider,"" said Scott McGuane, president of Halo Portfolio Advisors. ""Our client recognized the uniqueness and effectiveness of our approach. We will enable them to grow through seamless integration and a comprehensive strategy as they are continuing to acquire distressed assets.""

McGuane explained to DSNews.com that this contract represents the company’s first with a hedge fund. He said previous engagements have been with mortgage servicers, banks, or direct to consumer, and included managing similar workout efforts from within companies like Citigroup, Bear Stearns, and Lone Star Funds.

The current economic environment finds lenders drowning in an overflow of distressed assets. According to Halo, the cause behind a typical troubled asset is often not one, but several contributing factors.

When a loan is underperforming, the company explained, it may be due to other outside influences of financial stress, such as a high unsecured debt load held by the consumer. Halo says it is able to manage these other outside factors by leveraging its full suite of services.

Halo Portfolio Advisors' workout program allows for the management of a diverse portfolio of loans with technology systems that are bundled for transparency, efficiency, and flexibility, the company said. Halo says it works toward establishing affordable, long-term mortgages while also achieving an improved return for lenders and investors.