Tag Archives: Outreach Financial Services

Outreach Financial Services, LLC (OFS)reported returns on investment of 800 percent through its loss mitigation pilot program efforts. OFS, a Jacksonville, Florida-based mortgage services provider, says the ""figure is based on the incremental losses that were avoided.""

Holistic financial counseling -- that which focuses on a borrower's entire financial situation -- can prevent both foreclosures and re-defaults, according to a recent study sponsored by special servicer Outreach Financial Services. Holistic financial counseling can save servicers up to $71.5 million in losses on a portfolio of 10,000 loans, according to the study. When holistic counselors review a borrower's entire financial status, they are generally able to diminish monthly spending by $200 to $300.