Bellevue based "mortgage workout" company
http://www.nationalhousingsolutions.us/
Looks like they just started business in summer 2006.
National Housing Solutions supports national and regional banks and lending organizations by working as a neutral third party with defaulted borrowers. Our certified financial specialists are experts in handling all the complexities with borrowers, which saves lenders time and money.
National Housing Solutions also provides fast, affordable solutions for homeowners with a defaulted mortgage. Our comprehensive array of services are designed to help people in any situation.
Good timing.
Looks like they just started business in summer 2006.
National Housing Solutions supports national and regional banks and lending organizations by working as a neutral third party with defaulted borrowers. Our certified financial specialists are experts in handling all the complexities with borrowers, which saves lenders time and money.
National Housing Solutions also provides fast, affordable solutions for homeowners with a defaulted mortgage. Our comprehensive array of services are designed to help people in any situation.
Good timing.
Comments
No kidding. We can include these guys as part of the "strong employment market" that makes the "fundamentals" in Seattle so special.
Plus I like the idea of a "mortgage workout":
"Come on people! Raise those ARMs!. That's it! Now hit the floor and give me 20%!"
My guess is they work with hard money lenders looking for leads.
This is tedious, labor intensive work with a very low profit margin. I noticed that this firm also (surprise!) also offers refinancing services.
Interestingly, I do not find either name of the two gentlemen listed as owners in the state database of licensed mortgage brokers or loan originators. There's nothing on their website to say how their company is licensed (a state violation.)
I'd say this looks like an opportunity for two dudes to make a buck tossing foreclosure-bound subprime clients into hard money loans.