PriorityPay Plus Offers to Help Borrowers Reduce and Pay Down Their Debt

DALLAS, Dec. 5, 2011 /PRNewswire/ -- New Verity Corp recently launched PriorityPay Plus to offer homeowners and consumers at large the opportunity to stabilize their debt circumstances by creating a financial management plan for their budgets.

The company estimates that consumers could slash as much as 10 to 20 years off their debt payments, potentially saving tens of thousands of dollars in interest in the process.

"Our goal is to provide a structured program that will help Americans to be in a better position to withstand any market downturn without the major hardship we are seeing across our country today," said Richard Lucas, CEO of New Verity Corp, the parent company for PriorityPay Plus.

PriorityPay Plus will work with consumers to better manage and expedite their mortgage, automobile, student, and any other debt payments by implementing a biweekly roll-down program. Three pay periods will offset principal balances, reducing the amount of interest and the terms for loans that a consumer owes.

"These tough economic times demonstrate just how effective household budgeting remains as a tool to prevent loan underperformance and promote responsible credit use," said Ed Delgado, CEO of the Five Star Institute.

PriorityPay Plus will also serve as a sponsor for the Five Star Institute's 2011 MPact Mortgage Banking Conference and Expo, held at the Omni Dallas from Dec. 4 – 6, 2011.

Lynn Simmons, President of New Verity Corp, added, "We are excited to be a sponsor of the MPact Conference as PriorityPay Plus will be introduced to so many industry leaders who can help to bring this vital program to the people."

The MPact Conference will focus on increasing the viability and success of mortgage industry professionals from sectors that include originations, servicing, data and analytics, and the secondary market.

About PriorityPay Plus

PriorityPay Plus is a service provided by New Verity Corp. It provides consumers with the ability to pay down their debt obligations across biweekly payment periods and better plan for their financial futures. The company takes inspiration from past success with Economic Advantages Corporation, the sister company for New Verity Corp.

For more information about PriorityPay Plus, visit www.prioritypayplus.com.

About the Five Star Institute

The Five Star Institute provides powerful, innovative, and strategic opportunities for education and collaboration between the mortgage industry, real estate agents, investors, and government agencies. Five Star is the architect behind the Five Star Default Servicing Conference and Expo, the industry's largest gathering of mortgage professionals, as well as DS News and the MReport magazines for mortgage servicing and lending executives.

For more information about the Five Star Institute, visit www.thefivestar.com.

SOURCE PriorityPay Plus