The LDA Report
Banks and Lenders–
Maintain contractual agreements with investors to service their loan portfolio. These are commonly referred to as ‘Pooling & amp; Servicing Agreements’ or PSA’s for short. Are contractually bound to maintain the investors’ fiduciary best interest and on occasion, with blatant disregard for the homeowners well-being. Generate profits by churning accounts, delaying or denying resolutions, constantly imposing conditions which are often repetitive, time consuming, or subject to error. By doing so the servicer is able to increase the charging of late fees, penalties, and transaction fees on your loan over an extended period of time. Ultimately, the investor and or home owner are the ones footing the bill. Benefit from loans in default status- instead of .25 basis points commission on interest earned, the servicer is paid 1.25 basis points commission on interest earned and collected if a loan is in default. Often fail to disclose alternative options which may benefit you or the investor- promoting a foreclosure driven environment. Most Bank and Servicer business models are based on a foreclosure and asset preservation to the degree that internal bias hinders the servicers’ ability to maintain objectivity when approached. This approach only adds to the bewilderment because the servicer is resistant to other financially viable alternatives which may appeal to the home owner and the investor alike.
The loan Disposition Analysis report is an essential tool successfully used by lawyers and loan modification professionals.
The LDA is now available to homeowners who need to know up-front if and how they qualify for a loan modification.
This report should be included in every loan modification application (RMA). PRIME LEGAL SERVICES LLC is offering the LDA report service to homeowners seeking a loan modification from their lender.
Once this report is ordered there is generally a waiting time of 2 weeks-
if the homeowner receives an approved status, Prime Legal will assist the
borrower in requesting the loan modification. Once the loan modification is received the borrower will then pay a fee.
To learn more call 201-397-6941 or fax 1-886-896-3671