Phillip Michaels, Chief Executive Officer and acting Vice-President - compliance at Federal Home Retention Services, commented on the process, "Our firm has been using compliance analysis in production for many years. In every electronic examination that has required us to submit loan-level data, Mortgage Compliance Analysis Reports originating from our firm has provided us with a simple and straightforward process to comply and to deliver the necessary information. Federalhomeretention.org has been a useful platform in ensuring quick turnaround and assistance in staying organized. It has made preparing for enforcement much easier and quicker."
Since the beginning of 2008, Federal Home Retention Services has used Mortgage Compliance Analysis and other similar software to be a part of the 60,000 loans directed to regulators for Compliance Enforcement. Ensuring that loans are either clear of violations or not ahead of taking action can save a licensee the time and monetary cost associated with accusations that are more serious. As a result, lenders are increasing their use of the up-front automated audits to prepare in advance for the new regulatory reform. Federal Home Retention Services has recently opened its doors to consumers allowing the public to obtain these services directly from the firm, where prior to this decision, only conducted business-to-business dealings to correspondent lending institutions, federal banking associations, law firms, wholesale lenders, loss mitigation companies and direct lending institutions across the country.
The other importance of the mortgage compliance findings is that it may be the grounds to help move a non-judicial foreclosure action (currently in 29 states), if necessary, into jurisdiction, which can stop foreclosure in its tracks. More importantly, borrowers regardless of financial hardship and payment history now have the chance for a better position to negotiate new terms or loan settlement. Violations found in an investigative compliance reports can help place the borrower in the offense as proven by Federal Home Retention Services. Federal Home Retention Services continues their assistance to legal professionals in navigating through the loan modification process with learning channels, which is critical for legal advisors that are looking to make the loan modification model of their business practice. "Information is only as good as the ones that know how best to use it," Phillip Michaels, the CEO of Phillip Michaels concluded.
Federal Home Retention Services incorporates many divisions that offer a variety of synergistic products to clientele while delivering a reputation for outstanding services and wholesale pricing. Federal Home Retention Services also handles investigative commercial loan audits for several Commercial Agencies, Banks, and Organizations. Federal Home Retention Services has viewed itself as a volume driven agency for residential and commercial real estate transactions. Federal Home Retention Services Headquarters is located in Encino, CA. Their physical address is 16161 Ventura Blvd, Suite C890, Encino, CA 91436For more information about Federal Home Retention Services, please visit http://www.federalhomeretention.org or call (888) 751-9378 SOURCE Federal Home Retention Services