Freddie Mac has contracted Titanium Solutions, a third-party servicer, to go to the homes of delinquent borrowers to get the missing information and documentation necessary to start a three-month long trial repayments under the Home Affordable Modification Program (HAMP). “By meeting with our borrowers, one on one, Titanium Solutions can help them overcome the roadblocks keeping them from starting their Home Affordable Modification trial periods,” said Ingrid Beckles, Freddie Mac senior vice president, default asset management. As a fraud prevention measure, Titanium representatives will not be allowed to accept mortgage payments or any other money from borrowers, Freddie Mac said. Representatives will also carry a copy of the solicitation letter the borrower initially received from their servicer, which contains unique information about the borrower’s loan. In addition to the door-to-door campaign, Freddie Mac sends representatives to foreclosure mediation events put
on by the Treasury Department and has hired Home Retention Services, a subsidiary of Stewart Lender Services, to process the backlog of modification applications from distressed borrowers with Freddie Mac mortgages.
Susan Park a Realtor with Exit Real Estate Group, and a short sale investor in Los Angeles, California said ” that she has already seen employees of Titanium in the area of Miracle Mile in Los Angeles.
We are not the FHA, VA, USDA, HUD or any other government organization. The content on this blog is intended for information purposes only.
Hmmm…wouldn’t it be nice to get some sort of notification that someone is going to show up on your doorstep and solicit you? I have a client that happened to and was totally put off by it because actually these are “leads” that are SOLD mind you, to Realtors. The Realtors buy a packet from Titanium and then IF they get the listing they still have to pay an additional 25% referral fee. You would think that with the 3 – 4 phone calls that BOA makes to their delinquent clients daily, that they could give a “heads up” that someone would be knocking on their door unannounced to “help” w/the paperwork should they need it…Excuse my cynicism but this is nothing more than a lead generator attempting to make money off of Realtors who buy these “leads”…I’m not buying the “Help” aspect of this.