On the Eve of GSE and Mortgage Finance Reform Debate, Integrated Mortgage Solutions ('IMS') CEO Visits With Policymakers in Washington, DC

As Congressional hearings get underway, the impact on small, women-owned firms becomes critical

Mar 02, 2011, 15:39 ET from Integrated Mortgage Solutions

WASHINGTON, March 2, 2011 /PRNewswire/ -- Cheryl Lang, president and CEO, Integrated Mortgage Solutions ("IMS") journeyed to Washington to visit with Members of Congress and Obama Administration officials to discuss the impact federal programs, such as Home Affordable Modification Program (HAMP), the Neighborhood Stabilization Program (NSP), the FHA Refinance Program, and the Emergency Homeowner Relief Fund, can and will have on the industry.  

An industry leader in distressed asset management, property inspection and disposition, Lang's visit comes at a time when both President Obama and Capitol Hill prepare to tackle one of the country's leading causes of the struggling economy – issues within the housing and mortgage financing sectors.

Lang's visit included meetings with key Members of Congress, senior officials at the Department of Housing and Urban Development ("HUD"), Federal Deposit Insurance Commission ("FDIC"), National Association of Housing and Redevelopment Officials ("NAHRO"), Freddie Mac and Fannie Mae.  

"Over the last several weeks, I've had the opportunity to review the preliminary proposals designed to reform the mortgage finance industry as we know it," said Lang. "The success of HAMP, in particular, is relative at best.  As a small business leader and advocate for those borrowers hardest hit, I understand and appreciate the goals of HAMP.  That said, the implementation, outreach and overall benefit to the borrower has missed the mark."

"NSP, by contrast, is slowly proving to positively impact the targeted states and local communities intended. Some of the hardest hit states such as California, Florida and Nevada have received significant NSP allocations.  Ending federal support of this program will leave little to no support for communities that need it most. Other programs such as the FHA Refinance Program and the Homeowner Emergency Relief Fund will require a more thorough examination of their effectiveness and benefit, beyond dollars and cents," Lang continued.

IMS is an active member in several industry trade associations, such as the National Mortgage Bankers, Mortgage Action Alliance, and the National Association of Hispanic Real Estate Professionals.  

"Our goal in coming to Washington is quite simple.  We wanted to encourage decision-makers to actively seek the input and participation from those of us on the front lines daily, interacting with borrowers and lenders, collaborating with servicers and assisting housing authorities with managing properties throughout the country," said Lang. "As industry leaders, many of us depend on those in Washington to make key decisions that not only could help our companies grow, but restore hope and dignity to many Americans that live with the threat of losing their homes."

About Integrated Mortgage Solutions

Integrated Mortgage Solutions (IMS) is a leading provider of collateral protection resources for the mortgage servicing sector, offering a full range of asset management services reducing the costs associated with loan servicing and default management functions. IMS enhances the efficiency and effectiveness of these processes through a complete spectrum of products and services, including inspection, repair, and preservation, hazard claims recovery, borrower outreach, door knocks, document retrieval, short sale management, REO marketing and management and property and tenant management services. For more information regarding IMS, visit www.imstoday.com.

Note to editors: Photos of Cheryl Lang are available upon request.

SOURCE Integrated Mortgage Solutions