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» VISIT US ONLINE @ DSNEWS.COM 61 SPECIAL ADVERTORIAL SECTION SHORT SALE TECHNOLOGY/OUTSOURCER PROFILE Short Sales Technology and Outsourcing Profiles SPECIAL ADVERTORIAL SECTION Loss Mitigation Services, LLC KEY PERSONNEL Jaime Mulvihill Managing Partner Michelle Jackson Operations Manager Austin Miglin Negotiations Manager Staffing: Number of Company Employees: 25 Geographical scope and coverage area: Our business is based in Massachusetts, but we have successfully completed short sales in New Jersey, Pennsylvania, New York, Florida, North Carolina, and California. CORPORATE DETAILS: 789 Turnpike St. Suite 201, North Andover, Massachusetts 01845 | 844.340.8320 gabriel@lmsma.com | topshortsaleassistance.com COMPANY DESCRIPTION: Loss Mitigation Services, LLC provides a streamlined short sale processing experience for listing agents and their sellers. We specialize in debt negotiation, mortgage processing, underwriting and consumer assistance. Our service guides listing agents from listing all the way to closing. We simplify the process for the seller by guiding them through all of the required paperwork. We ensure a clean closing by working hand in hand with the closing agent. We have cutting edge proprietary software that allows for transparency throughout the process. COMPANY HISTORY: Organized in 2012, our team has completed thousands of transactions with every major servicer on all short sale platforms. Transactions with purchase prices from $30,000 to $7 million. BUSINESS LINES, SERVICES, AND PRODUCTS: We work with listing agents and sellers exclusively to close short sales quickly and efficiently. Processing short sales on behalf of agents and sellers is our only service offering. We offer: » Listing guidance and coaching to our agent partners · Listing short sales effectively requires a modified listing presentation, the focus of the listing presentation has to be on the seller's distress, eliminating the mortgage debt and moving forward in life with a chance to purchase again in the future. As agents, we are trained to focus our efforts during the listing presentation on monetary benefit to the seller. · Undue emphasis on monetary benefit is problematic. We have prepared material that we distribute to agent partners to assist them with properly presenting the benefits of a short sale to their client. » Valuation approach & guidance · A successful short sale is determined by looking at the transaction from the investor's perspective from the outset. We walk our agent partners through the process by defining what an 'as is' sale means to an investor. · We help by preparing value packages that assist in presenting the asset to valuation specialists in a way that is most likely to help them understand how we arrived at our offer amount. » Transactional support to our agent partners · We have templates that include investor required language. Instead of having to search for the information or react to investor-required adjustments once the transaction is in process, agents can rely on us to provide the information up front. » Document management and assistance for sellers · We act as a repository for the transaction. All transaction records are backed up in our system for a minimum annual period depending on statutory requirements in the particular state. » Transaction closing coordination · Short sales are complicated and often closing agents are unfamiliar with the ins and outs of the process. We walk every transaction through to the closing to ensure a compliant and successful closing every time. WHAT SETS YOU APART FROM YOUR COMPETITORS?: Every transaction is carefully scrutinized and analyzed prior to engaging the servicer. Our staff reviews any potential title, investor, or value issues at the outset, so that we do not get blindsided mid-negotiation. Short sales are paper intensive and require adequate individual coverage at every stage; we staff at levels that ensure each account is touched at least every 72 hours. Preparedness and coverage are the key to making sure a short sale is not prolonged or derailed. WHAT ADDED VALUE DO YOU BRING TO YOUR CLIENTS?: Our agent partners are able to carry much bigger pipelines as a result of our involvement. We have agent partners that have been able to expand their short sale listing pipeline from 5 to 10 properties per year to 75 to 100 properties per year. We provide a high level of clarity throughout the process and tailor our communications to fit clients' needs. WHAT ARE THE KEYS TO YOUR SUCCESS?: The key to our success is simple: understanding of the overall process and diligent execution.