The New Face of Loss Mitigation Departments

We are again seeing an increase in Resale orders and we are definitely seeing a smarter, better informed Realtor making offers on the number of Short Sale listings that now exist.

We are also seeing a more willing, more informed Loss Mitigation department within the Banks, which is a welcomed trend. The truth is most Banks are now three years into this distressed property market and the smart ones, have started staffing their Loss Mitigation departments well, they have engaged the Realtor as a stakeholder and partner, in their property challenge and used that Realtor’s local knowledge and marketing ability to help liquidate property.

The reality is, as one of my good banking partner said to me last week, “Steve, I don’t know one Loss Mitigation department within ANY bank that actually makes the Bank a profit." What a true statement that is.

Steve de Laveaga
Senior VP of Sales and Marketing
Fidelity National Title
Maricopa County
480-214-4500
steve.delaveaga@fnf.com
www.fntarizona.com