Default Surveillance and Loss Recovery

Impac offers comprehensive, targeted default surveillance and loss recovery services. Included in the range of services are Servicer Reviews, Portfolio Monitoring, Pre-Foreclosure Surveillance, Targeted Loss Mitigation including Loan Modifications and Short Sales, Mortgage Insurance Surveillance and Recovery.

Portfolio Monitoring and Pre-Foreclosure Surveillance  services  provides focused reporting on portfolio performance and delinquency trends with an emphasis on effecting loan modifications , short sales and other loss mitigation activities.  Our clients are provided portfolio performance reports detailing delinquency trends, loss severity by event type, and roll rate reports.  Targeted Loss Mitigation support services utilizing Impac’s Loan Modification unit are also available to our clients.  These activities include proactive borrower outreach, skip tracing and door knocking to contact delinquent borrowers or borrowers at risk of default to discuss loss mitigation solutions available to them.   The REO Surveillance unit expedites the liquidation process through oversight to effectuate reduced loss severities.

Servicer Reviews can be tailored to individual client needs ranging from onsite evaluations of the Servicers stated policies and procedures to the review of Servicer's operating units such as collections, loss mitigation, foreclosure, bankruptcy, and REO management to assure the adequacy of management and staff strength and depth, organization layout and structure, adequacy of relevant business processes and adherence to industry best practices.   Loan level reviews can also be performed.

Mortgage Insurance Monitoring and Recovery Services are offered on portfolios of insured loans. Impac monitors the portfolio to validate that claims are filed and paid on a timely basis.  In the instance of liquidated insured loans with no MI funds received, our Recovery Managers perform a forensic analysis on each loan to identify the reason claims have not been paid and provide our clients with an estimate of  the potential insurance recovery. We then engage with the mortgage insurers  to resolve open issues and provide the required documentation to perfect claims. When needed, our Recovery Underwriters prepare detailed rebuttals to the mortgage insurers on loans with rescinded coverage to build the case for coverage reinstatement.    Open claims and rescissions are monitored until payment is received or the case is ultimately closed.

Our clients receive regular reporting on the progress of their claims and can expect to see loan level loss severities reduced by as much as 25% on successful cases.

For Default and Loss Recovery Services Contact either:

Jim Malloy at 949-475-3987
Jim.Malloy@ImpacCompanies.com

            - or -

Kim Sanderson at 949-475-3842
Kim.Sanderson@ImpacCompanies.com