Servicer Develops a Program to Assist with Obama Housing Plan
Marix Servicing LLC Develops Borrower Outreach Program to assist servicers with Obama’s Housing Plan.
Company Release: February 25, 2009
PHOENIX — Marix Servicing LLC (Marix), a National mortgage servicer just recently released their Borrower Outreach Program which is an innovative process that assists mortgage servicers to reach out to distressed borrowers who are at risk of losing their homes to foreclosure.
The Obama plan, would allow up to 4 million borrowers facing foreclosure to get their payments reduced through modifications. The only way this plan can be effective is if mortgage servicers are able to reach the borrowers quickly and are skilled in loss mitigation techniques.
Marix has developed a process to assist servicers through effective outreach and skilled counselors who understand the borrower’s situation. “We have even had neighbors of borrowers that we assisted calling us asking for our help” says Marix Senior Vice President Steve Paton. “The more time goes by for a distressed loan, the more likely it will end up in foreclosure, and it is our goal at Marix to assist the borrower and try to keep them in their home through modifications and creative borrower home retention efforts.”
“We have developed a process and have the capacity to take on the work flow to assist servicers and their borrowers which will facilitate the Obama Housing Plan during this critical economic time” says Rick Smith, President of Marix.
Marix is a specialty default servicer located in Phoenix, AZ, which was formed by Marathon Asset Management, LLC (“Marathon”). Marathon is a global investment management firm with $10 billion in capital under management. Marathon has broad experience investing in and financing mortgage assets, and considerable history and experience investing in the financial services industry.
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