FAS Announces the Launch of a New Door Knock Service

Irvine, California - Financial Asset Services, Inc. (FAS), a national asset management company with a 30-year history of providing superior property disposition and valuation services for mortgage companies and financial institutions, announced today that is has launched a new Door Knock service designed to help mortgage servicers in their loss mitigation efforts.

"Utilizing door knocks is a cost effective way for mortgage servicers to reach out to homeowners that may have ‘gone dark’ in the default process," said Jeffrey Flory, who runs the Sales and Marketing team at FAS. "We leverage our nationwide network of seasoned REO and Short Sale agents, so if they are fortunate enough to make contact and the homeowner is willing to talk, they can have a constructive discussion of some of the options that may be available to them."

The agents are given strict instructions as to their specific behaviors while executing the door knock service in order to remain compliant with the Fair Debt Collection Practices Act (FDCPA). "It is our mission to bring the homeowner back to the table in a dignified fashion," said Flory, "and we are very careful in selecting agents for this service that understand the basic, yet critical, concepts of professionalism and respect."

For the servicer, successful door knocks can open up new discussions of Short Sale transactions or deed-in-lieu negotiations, both of which can benefit both the homeowner and the servicer. From the homeowner’s perspective, they are afforded the opportunity to leave the property on their terms and with dignity. From the servicer’s perspective, the loss severity will likely be much lower by leveraging Short Sales or deeds-in-lieu.

"As we rolled this process out in pilot phase, we immediately saw the impact that successful door knocks can have on the loss mitigation process," said Flory, "and our clients were thrilled with the results. We manage and track the performance metrics on our own system, so over time, we’ll get a good picture of which agents are successful in reaching homeowners, and bringing about expedient resolution to the issues."

To learn more about Door Knocks at Financial Asset Services and how they can help you in your Loss Mitigation efforts, please contact the Sales and Marketing team at (949) 862-1421 or via email at marketing@fasinc.com.