Marix Servicing and Logicalis Work Together to Reduce Home Foreclosures with Innovative Technology
Bloomfield Hills, MI, and Phoenix, AZ (PRWEB) December 16, 2008 -- The more time that goes by for a distressed loan, the more likely it will end up in foreclosure. "The key to saving distressed borrowers is contacting them directly. We needed a way to reach out to individual borrowers as quickly as possible and begin collecting information on their loans," says Steve Paton, Senior Vice President at Marix Servicing LLC (www.marixservicing.com), a loan servicing company founded in 2007 in response to distress in the U.S. mortgage market. As a loan servicer, Marix is employed by mortgage insurers and investors to save the value in their mortgage investments. To do that, Marix's highly trained experts work directly with homeowners to help them save their mortgages through a range of financial options, including refinancing, short sale arrangements and other workout plans. Everyone benefits, especially the homeowner, when a mortgage can be kept from foreclosure. With time as its enemy, Marix turned to Logicalis (www.us.logicalis.com), an international provider of high-performance technology, to help develop the software application necessary to quickly initiate loss mitigation procedures that could keep homeowners in their homes.
Find out how Logicalis was able to quickly develop the necessary loss mitigation application for Marix Servicing. Visit Logicalis at http://www.us.logicalis.com/custexp_marix_outreach.htm.
Logicalis worked as an extension of the Marix team to quickly develop the Marix Borrower Outreach (MBO) application. The MBO program responds to the very specific needs of two distinct sets of Marix clients: Mortgage insurance companies that are liable for claims on defaulted mortgages, and mortgage investors who buy large blocks of mortgages. The key for both clients is the ability to begin direct communication with individual borrowers as soon as possible, to initiate loss mitigation procedures before their mortgages reach a tipping point that almost always ends in foreclosure.
And Marix doesn't just rely on technology to get that information. If calls and letters don't establish a meaningful dialog with the homeowner, a Marix loan expert will make house calls. By accelerating the collection of critical data, the Marix Borrower Outreach program allows Marix to begin contacting homeowners as soon as a minimal amount of information is available. The MBO program provides access to data including property information, payment history and the real-time status of the mortgage at the critical time when loans are transferred from other servicers, when problems often occur.
"Logicalis has been very good at understanding the business needs and bringing that to bear on what we are trying to accomplish," Paton says. "They do a good job of retaining that information, too," he adds. "We've done several projects with them, and they never have to start over from scratch. Logicalis works like an extension of our own IT team."
About Marix Servicing
Marix Servicing LLC is a national mortgage servicer located in Phoenix, AZ, specializing in the servicing and resolution of sub-performing, non-performing, and distressed residential mortgage loans and foreclosed real estate. Marix provides exceptional service and results for its customers through industry experience, a culture of excellence, a dedicated staff and superior technology. For additional information, please visit www.marixservicing.com.
About Logicalis, Inc.
Logicalis is an international provider of high-performance technology solutions. With over 1,500 people worldwide, Logicalis delivers smart solutions based on specific needs, not the latest IT trend. Logicalis provides options, direction and support to more than 6,500 corporate and public sector customers. The company attributes its success to the everyday positive experiences with its customers and strategic partners such as IBM, HP, and Cisco.
Logicalis has annualized revenues in excess of $1 billion, from operations in the UK, US, Germany and Latin America. Logicalis is a division of Datatec Limited (LSE/JSE:DTC), a $4 billion multi-national organization listed on the AIM market of the LSE and the Johannesburg Stock Exchange. With over 30 offices in the United States, the company's U.S. headquarters are in Bloomfield Hills, MI. For more information about the Logicalis experience, visit www.us.logicalis.com.
Media contacts:
Lisa Dreher, VP, Marketing & Business Development, Logicalis, Inc.
lisa dot dreher at us dot logicalis dot com; 425-201-8111
Arthur Germain, Principal, Communication Strategy Group for Logicalis
agermain at gocsg dot com; 631-239-6335
Rudy Orman, Vice President, Marathon Funds
rorman at marathonfund dot com, 813-789-7613
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