We Save Homes, Inc., the sole publicly traded loan modification, loss mitigation and short sale software company assisting US homeowners by providing mortgage risk managers with web-based software that enables a collaborative online environment, announced today a key and strategic partnership with law services sector, default mortgage specialist, Attorney Home Protection Services, APC (AHPS).
Under terms of the agreement, WESA will receive a $250 tech fee per transaction, up to $2500 per short sale, which could mean huge numbers down the road looking at the data from Fannie Mae and Freddie Mac, which are projecting increased defaults out of the some $12 trillion in notes they are holding, pushing short sales and loan modification up to 71% of Fannie’s inventory.
President of AHPS, James McHenry, cited the dominant role of WESA’s eTurboMod™ software environment for simplifying “the loan modification/short sale process and the overall documentation flow”, pointing to the industry-wide expertise and proven track record of operating a full-service processing facility as the fundamentally sound reasons for selecting WESA.
President of WESA, Ryan Boyajian, expressed his pleasure over the selection by AHPS and noted the over 9 million families in need of the vital services AHPS offers (and whom WESA’s software can help to expedite the resolution of mortgages).
Boyajian called the attorney market a “key segment” for the eTurboMod™ product, and pointed out how the software streamlined and condensed the workload attorney’s experience, allowing them to collect all the paperwork and information in one place so they can present a package of assets to the lender which helps them keep their home.
Boyajian said WESA will fulfill a backend support role in the vetting of over a thousand of AHPS’s client files, which represent a broad and growing clientele.
Boyajian noted that WESA currently works directly with the lender via eTurboMod™ to resolve outstanding issues through a standardized defaulting loans process, and is able to leverage its vast network of licensed and trained real estate professionals, who specialize in short sales to help the lender navigate the short sale process to their satisfaction.