David D McElroy
Screen Name: davemac2200
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Points: 27
Plano, Texas
United States
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OFFLINE
Real Estate Workouts
My Details
About Me
- Mortgage Banking Professional with over 25 years progressive experience in Default Servicing which includes; Loss Mitigation, Risk Mitigation, and Financial Analysis
- Experienced successfully managing pipelines of transactions in excess of 130 closings monthly
- Experience negotiating with creditors, mortgage companies, and IRS to secure compromises through settlement, short sale or short payoff
- Experience with reviewing and analyzing credit reports, loan applications, income and employment, asset reserves, and all documents to verify information needed to determine borrower’s ability to meet requirements of loan
- Licensed Texas Realtor (#0489516)
My Business
· Manage a portfolio of defaulted loans ranging from 30 days to over 700 plus days past due, with lien types varying from 1st, 2nd, and partial lien accounts
· Consulting with distressed homeowners to determine eligibility for refinance of their existing mortgage loan under current available mortgage loan programs and investors, or preparation of homeowner’s hardship package
· Verify the accuracy and authenticity of all documents submitted to the Mortgage Lender
· Complete creation of BPO valuation to determine the Fair Market Value of the subject collateral.
· Identify resolution opportunities, such as: Modifications, Full Payoffs, Short Sales, Deed in Lieu and Reinstatements
· Assess all borrower’s multiple credit issues that influence mortgage default, including loan to value ratios, debt ratios, credit bureau characteristics, assets, collateral evaluation, and other underwriting distinctions
· Create synopses with default explanations
· Communicate with Attorneys regarding accounts referred for foreclosure and monitoring the foreclosure timeline
- File preparation of the homeowner’s hardship package to procure the sale prior to foreclosure
- These tasks require balancing multiple ongoing files with servicing lenders, some with subordinate liens, in addition to keeping all parties in the transaction informed with progress
- Negotiating loan modifications, forbearances, deeds in lieu, and short sales to cure defaults avoiding foreclosure
- Preparing and executing marketing campaigns using direct mail, Internet, telemarketing, and Realtor referral sources, which generate in excess of 100 phone inquiries per day
My Contacts
My Comments
03/12/2009
Hello!
Very nice to meet you! Welcome to our community! If you ever need any help, just let me know. Visit my profile right away as I am always here to help! I hope we can work together sometime in the future! TIP: You may use OUR CASH up to 50 MILLION per transaction and use OUR Proof of Funds Letter, to flip Short Sales, REO's, Commercial, or other types of property. (Bulk Packages included) We will Train you on all of these processes as well. We also will help you to flip or SELL all your properties in Record Time! (All paperwork, contracts, etc.. included!)
Visit my profile and say Hello!
I wish you the absolute BEST of success and happiness. Have a good day and I look forward to possibly working with you in the future!
p.s. www.EnsleyFunding.com
03/08/2009
Hey, welcome to the site if your ever looking for advice or to network please dont hesitate to contact me. Also, come join Leadtackle.com its free and also allows you to find specific investors in your area. Take Care