Foreclosure Strategic Recovery Group Focuses New Unit on Servicing
Sunday, April 20, 2008
With loss mitigation now the primary focus of many financial institutions and investors, Plano, Texas-based Strategic Recovery Group, LLC, has launched its Acqura Loan Services unit—a platform that will help lenders, hedge funds and investors find quality solutions for financial institutions and borrowers.
With expertise in loss mitigation, collection services for hedge funds, and risk-management technology, Acqura hopes its management team will benefit financial institutions and investors by giving them easy access to quality asset managers and risk assessment providers.
In a press statement, Acqura promotes its ability to provide analytics that detect underlying loan risk.
“The company has developed proprietary borrower risk modeling, known as Borrower Risk Factors (BRF) to score loans as they are boarded,” Strategic Recovery said in a statement. “This scoring is used to predict the level of loss mitigation that will be required and to assign the loan to the best team to handle it. On an ongoing basis, the entire population of loans is re-scored nightly to give the lender or investor insightful, up-to-date information. The company is also developing new more advanced predictive consumer behavior models tied to the underlying risks associated with borrowers and properties.”
David Vida, chief executive officer of Acqura and its parent company Strategic Recovery Group, says loss mitigation is one area where his company's new platform can find its niche.
“Typically, loss mitigation begins when something bad happens,” Vida said. “Our approach will allow us to be more proactive in anticipating events, such as resets or deteriorating credit, and to establish a profile and, hopefully, a dialogue with the borrower before the situation escalates. Our high-touch approach is designed to encourage cooperation from the borrowers, and to offer them customized payment plans and loan modification options to help them stay in their homes, if they want to and can afford their payments.”
With expertise in loss mitigation, collection services for hedge funds, and risk-management technology, Acqura hopes its management team will benefit financial institutions and investors by giving them easy access to quality asset managers and risk assessment providers.
In a press statement, Acqura promotes its ability to provide analytics that detect underlying loan risk.
“The company has developed proprietary borrower risk modeling, known as Borrower Risk Factors (BRF) to score loans as they are boarded,” Strategic Recovery said in a statement. “This scoring is used to predict the level of loss mitigation that will be required and to assign the loan to the best team to handle it. On an ongoing basis, the entire population of loans is re-scored nightly to give the lender or investor insightful, up-to-date information. The company is also developing new more advanced predictive consumer behavior models tied to the underlying risks associated with borrowers and properties.”
David Vida, chief executive officer of Acqura and its parent company Strategic Recovery Group, says loss mitigation is one area where his company's new platform can find its niche.
“Typically, loss mitigation begins when something bad happens,” Vida said. “Our approach will allow us to be more proactive in anticipating events, such as resets or deteriorating credit, and to establish a profile and, hopefully, a dialogue with the borrower before the situation escalates. Our high-touch approach is designed to encourage cooperation from the borrowers, and to offer them customized payment plans and loan modification options to help them stay in their homes, if they want to and can afford their payments.”
