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24 marketing deck

  1. 1. COMPREHENSIVE END-TO-END DEFAULT AND ASSET MANAGEMENT SOLUTIONS EARLY STAGE DELINQUENCY THROUGH REO ASSET MANAGEMENT 24 Asset’s fiscally and socially responsible business processes are rebuilding communities and hope nationwide WEST COAST EAST COAST SOUTH EAST 1450 Frazee Road 13155 SW 42nd Street 970 Peachtree Industrial Blvd. Suite 301 Suite 200 Suite 204 San Diego, CA 92108 Miami, FL 33175 Suwanee, GA 30024 SEPTEMBER 2011 JUNE
  2. 2. EXECUTIVE SUMMARY 24 Asset Management Corp. (“24 Asset”) is a full-spectrum default and asset management company providing industry leading services and solutions. 24 Asset’s seasoned, erudite, and strong management team has over 100 years of management experience in the asset loss mitigation, REO asset management, accounts receivable, default management, and component servicing space. This certified Minority Business Enterprise (MBE) has been streamlining business processes for Client partners such as financial institutions, GSE’s, banks, loan servicing firms, and mortgage companies with nationwide business solutions. Innovative solutions and comprehensive services are leveraged from core technical competencies. A recognized industry leader, 24 Asset’s focus is on delivering top quality asset and default management services in a centralized environment to maximize the Client’s return on investment through an amalgamation of responsive, flexible, and personalized services at competitive prices.PROPRIETARY AND CONFIDENTIAL 1
  3. 3. COMPREHENSIVE END-TO-END BUSINESS SOLUTIONS 24 Asset offers a full-suite of established nationwide services, exceeding the offerings of other collection, loss mitigation, and asset management companies. Other Collection Other Loss Mitigation Service 24 Law Firms Agencies Companies Mortgage Servicing (1)  Contact Management     Collections/Repayment     Skip Tracing     Field Services: Property Inspections, BPOS, Valuations, Property    Preservation Mortgage Loss Mitigation: Forbearance. Refinancing, Short Sale,    Deed in Lieu, Cash for Keys Foreclosure Management    REO Asset Management   Mortgage Originations  Portfolio Advisory Services  Attorney Network Management    (1) Performed through strategic partnerships with valued servicing partners. () Few companies offer the noted services.PROPRIETARY AND CONFIDENTIAL 2
  4. 4. CORPORATE HIGHLIGHTS Experience • Master Servicing capabilities with access to hundreds of market tested professionals and vendors • Unique short sale and REO processes that reduce sale timelines and decrease overall loss severity • Experienced, trained, multi-lingual representatives answer questions and follow-up relative to loan modification terms • Nationwide field services network manages collateral inspections and face-to-face borrower outreach • Knowledgeable underwriters document and qualify borrowers for mortgage workout programs Compliance • Certified minority owned and managed company licensed, bonded, and fully-insured nationwide • Ongoing FDCPA and teleservices compliance training, certification, and performance evaluations • SAS 70/SSAE16 certified colocation facility to ensure data security • All calls are recorded, archived for a minimum of one (1) year, and randomly sampled for quality control and training Technology • State-of-the-art servicing platform successfully blends multiple business lines (collections, debt purchasing, borrower outreach, skip tracing, loss mitigation, asset management) into an advanced user friendly platform • Stress tested REO technology platform • Robust reporting capabilities at the loan level available daily, weekly, monthly, and quarterlyPROPRIETARY AND CONFIDENTIAL 3
  5. 5. CUSTOMIZED SOLUTIONS 24 Asset offers a highly effective combination of services to provide a complete collections and loss mitigation solution. Servicers and investors are presented with the unique opportunity to increase efficiency and revenue. Nationwide Licensing Certification/Compliance Customized Workflows Licensed, bonded, and fully-insured in Regular verification and system updates Customized resolution workflows to all 50 states to exceed all certification and achieve campaign goals and comply with compliance regulations Client work standards Call Recording & Monitoring Quality Assurance Predictive Dialer All calls are recorded and filed for a Representative training, scorecards, call Increases representative productivity minimum of one (1) year. Daily recording and review, and account and effectiveness monitoring includes: deceased, BK, auditing credit bureau, etc. Customized Reporting Automated Messaging Field Services Reporting can be customized to Automated and custom messaging Nationwide door knock service available servicer/investor criteria for broad system allows for unlimited agent-less to establish contact with the borrower. campaign reports or seat level calls to increase borrower response and BPO and property valuations and productivity reports connectivity property preservation. Property Inspections Payment Processing Portfolio Advisory Services Highly valuable in determining the Full capability to take payments from Acquisition and sales consulting, status of the property and the borrower’s borrowers on behalf of the valuations and analytics, post sale intentions servicer/investor through varying support, and Master Servicing solutions payment methodsPROPRIETARY AND CONFIDENTIAL 4
  6. 6. HIGH LEVEL WORKFLOW Servicing File Investors Receive Loan(s) Acquisition File Lenders Electronic File Investor File Servicers Workout Analytics Collections Aggregation Validation Underwriting Fulfillment Solutions• Analyze borrower • Call campaigns • Receive workout • Document QC • Workout based • Modification • Mailing status • Sort and packages from and compliance on pre-defined • Repayment • Notarization• Sort and prioritize borrowers verification lender / servicer • Forbearance • Signature prioritize borrowers • Image and index guidelines, • Short Sale • Recording borrowers • Queue workout documentation analytics, and • Deed in Lieu • Tracking and• Queue workout solutions • Income / credit / borrower’s • Refinance reporting solutions • Data integrity valuation data capability • Other • Information relay• Board loan data validation and validation • Process workout to lender / QC • Board loan data solution per servicer system(s) into proprietary lender / servicer • QC modified data collection guidelines (SOW) fields platform • Produce / process • Audit lender / documentation as servicer required surveillance Proprietary • Portfolio Default reduction and Management refinance services PlatformPROPRIETARY AND CONFIDENTIAL 5
  7. 7. PROPRIETARY MANAGEMENT PLATFORM Diversified outsourcing collections solutions and customized workflow programs are available through a proprietary collection platform • L1 Service: Verify phone and address L3 Service: Asset and employment info Skip Tracing • L2 Service: Location investigation L4 Service: Database skip merge • Outbound calls through predictive and IVR dialers and manual attempts Connect Services • Nationwide door knock and property inspection services • 24-hour monitoring of all accounts Monitoring • Daily bankruptcy and deceased notifications • Federal Express, letter series ,and second letter sent via USPS Certified Mail Lettering • Custom letters and translation available • Summary production reports and custom designed reporting Reporting • Detailed portfolio statistics • Manage entire collection or mortgage loss mitigation process, including: Resolution Services • Collections, financial packages, note modifications, short sales, deed in lieu, refi’sPROPRIETARY AND CONFIDENTIAL 6
  8. 8. CONTACT STRATEGY AND CALL CAMPAIGNS Combined deep industry knowledge, a strong network of contacts, and the ability to maneuver swiftly provide strategic customer-centric call campaigns. Contact Strategy: Toll-free numbers are established and available Monday through Friday 9 AM to 9 PM (EST), Saturday 9 AM to 3 PM (EST), and Sundays upon request. A customized automated attendant is utilized for streamlined call routing. Skip tracing is conducted on all accounts without contact information or if no contact has been made within 10 days of mailing the initial validation letter. Custom letter services can be established and letters are sent at the servicers/investors request or according to Statement of Work (SOW) guidelines. Door knock and property inspections are ordered, when and where necessary, to establish contact with the borrower and preserve the property. Call Campaigns: Call attempts are made to unresponsive consumers at least every other day during the initial 20 days of placement or according to investor/insurer guidelines. Daily dialing criteria and contact goals are established. Dialing strategies are implemented based on portfolio characteristics, SOW standards, and contact and liquidation goals. Contact strategies are implemented for any borrower that has not returned their loss mitigation financial package three days after mailing, if applicable.PROPRIETARY AND CONFIDENTIAL 7
  9. 9. COMPONENT SERVICING OVERVIEW End-to-End Default Management Solutions Documentation Underwriting services Eligibility Borrower counseling Master servicing Single point of contact production and and/or final investor analysis and status updates management validation administration Charged-Off Loss Mitigation and Foreclosure REO Deficiency Collections Pre-Foreclosure Services Bankruptcy Services Balance 1-60 Days 61+ Days 91+ Days 120+ Days Collections 150+ Days Contact Contact Services Deed in Lieu Automated LOS Foreclosure REO Asset Contact Management Management • Right party connect • MLS validation Services Management • Call center services • Call center • Skip tracing • Nationwide attorney Automated • Trustee • Property • Borrower analysis services • Field services network Underwriting services inspections • Execute workout (if • Borrower • Workout package • Vacancy validation • Buyer • Property possible) analysis receipt • Title/escrow services Short Sales marketplace preservation • Contact strategy, as • Execute • Financial validation • Automated listing • Nationwide • Vacant necessary (skip trace, workout (if • Loan data boarding Forbearance and management attorney property field services) possible) • Process workout • Nationwide realtor network registration • Mail services • Contact solution(s) Repayment Plans network • Investor • BPO and • Document services strategy, as • Re-verify eligibility • Valuations reporting valuation • Initiate collection necessary vs. standards PRP/HAS • Buyer qualification • Automated services strategy (skip trace, services referrals • Rehab field Loan Modifications Refinance • Investor and MI • National BPO processes Nationwide Attorney services) • Automated approvals services management Network • Mail decisioning Short Refinance • AACER / • Automated services • HAMP vs. Non- Auction Services PACER listing services • Document HAMP solutions Front-End • MFR / POC • Skilled asset services • Standard Originations services managers • Initiate modifications • Tracking collection • GSE workout E2E fulfillment • Reporting strategyPROPRIETARY AND CONFIDENTIAL 8
  10. 10. GROWTH CAPABILITIES Servicing teams can be constructed and staffed in any domestic city with a 30-day notice of flow. Existing Nationwide Locations: 1 West Coast 1450 Frazee Road, Suite 301 San Diego, CA 92108 2 South East 970 Peachtree Industrial Blvd, Suite 204 Suwanee, GA 30024 1 3 East Coast 2 13155 SW 42nd Street, Suite 200 Miami, FL 33175 3 Growth and Integration Capabilities: • Ability to link and synchronize technology with Client data management systems • Scalable, portable, and secure technology • Fully adaptable matrixes and policies developed to adhere to Client methodologies creating a cohesive partnershipPROPRIETARY AND CONFIDENTIAL 9
  11. 11. DEFAULT AND ASSET MANAGEMENT SOLUTIONS 24 Asset is committed to providing Clients with default and asset management services in a centralized environment. Client-centric methodologies, a high-touch approach, and proprietary technology ensure state- of-the-art service while maintaining a personal connection with the Client and consumer, resulting in improved portfolio performance and a superior borrower experience. As a full-service collection agency and Master Servicer, 24 Asset has the flexibility to handle all pre- and post- charged-off responsibilities for consumer and mortgage accounts including contact management, skip tracing, field services, bankruptcy, probate, collections, agency and legal network management, and credit repository monitoring and reporting. With corporate offices located in the Eastern, Southeastern and Western United States, 24 Asset is able to provide service across all four time zones.PROPRIETARY AND CONFIDENTIAL 10
  12. 12. CONTACT MANAGEMENT 24 Asset offers a full-suite of fully-compliant contact management solutions wherein borrowers are engaged by an experienced team of collection, mortgage loss mitigation, and asset management professionals. Borrower outreach campaigns are structured based on Client portfolio characteristics, demographics, and fiscal goals. 24 Asset prides itself on: industry leading Quality Right Party Contact (RPC), one-touch resolution processes, goal oriented borrower engagement, and respect and professionalism in all communications. Nationwide licensing eliminates the need to invest in licensing costs or contend with state compliance issues. Multi-lingual representatives and lettering translation reduces staffing and training costs. Automated messaging and predictive dialers are integrated into customized contact management campaigns for use by experienced FDCPA certified staff. Contact Management Services include: Proprietary servicing platform. FDCPA and teleservices compliance certification for all representatives. Customized inbound and outbound call campaigns utilize state-of-the-art phone technology and fully integrated CRM systems with integration capabilities. Time synchronized proven outreach processes are coordinated through a multi-faceted approach which assimilates calls and lettering campaigns, skip tracing, field visits, multi-lingual representatives, an in-house skip tracing team, live “warm” transfers, dedicated toll-free numbers assigned based on campaign/servicer requirements, monitoring, imaging, tracking, and reporting.PROPRIETARY AND CONFIDENTIAL 11
  13. 13. COLLECTIONS AND REPAYMENT 24 Asset’s management team has accrued over $21.5 million in gross collections for contingency Clients since 2002. All collection services are performed in a fully-compliant manner through a proprietary collection platform which supports all stages of the collection life cycle from early out through post charge-off. Platform Capabilities: Payment tracking and servicer reporting (payment date, amount and method). Automatic payment calculation(s) based on servicer standards and borrower ability for all stages of default, including: loan servicing, skip tracing and field services, early-out (pre-charge-off) servicing, post charge-off collections (new and aged), primary through warehouse (agency) collections, customer care, resolution, bankruptcy, legal, and retention programs. Asset Classes: Auto loan and auto lease deficiency balance accounts, bankrupt and dismissed bankrupt accounts, business loans with PG’s, commercial accounts, consumer loans, lines of credit, credit cards, delinquent first and second mortgages, demand deposit accounts (returned checks/overdraft), installment loans, municipalities, pay day loans, residential real estate, returned checks, small commercial loans, telecommunications, and utilities. Accepted Methods of Consumer Payment: MasterCard, Visa, Discover, American Express, Western Union, MoneyGram, debit card, check by phone, checks, money orders, cashier checks, cash deposits, and wire transfers.PROPRIETARY AND CONFIDENTIAL 12
  14. 14. SKIP TRACING Fully customizable skip tracing programs deliver above market results in a fully-compliant manner for increased returns and borrower contact. Powerful skip tracing solutions help servicers, investors, HOA and PMI companies locate additional contact information to improve Quality Right Party Contacts (RPC) and profitability. Every account is scrubbed for up-to-date information immediately after it is loaded into the system including address and phone number as well as bankruptcy/deceased status. 24 Asset maintains a dedicated skip tracing unit which utilizes in-depth skip tracing techniques, products, and services to locate borrowers. Every call center representative has access to databases which locate borrower information based on their SSN allowing “on-the-spot” verification. Searches can be customized to include: Place(s) of employment, e-mail address(es), bank account(s), seven to ten year criminal and civil court searches, bankruptcy searches, tax liens and judgments, corporations, LLCs, and other business searches, UCC and FAA filings, drivers license and motor vehicle information, internet domain names, and merchant vessels. Real-Time Data Updates: Directory assistance, national change of address (NCOA) filings, cellular phone listings, unlisted phone numbers, etc.PROPRIETARY AND CONFIDENTIAL 13
  15. 15. FIELD SERVICES AND PROPERTY INSPECTIONS 24 Asset’s full spectrum of result-driven field services are customized to complement existing workflow dynamics, optimize portfolio performance, improve default management operations, and achieve targeted goals. 24 Asset protects the Client’s assets, reputation, and exposure while optimizing portfolio performance through services that accommodate industry standard requirements as set forth by the GSEs. 24 Asset’s nationwide network of over 25,000 background screened and FDCPA tested field representatives are trained to facilitate borrower contact, increase Right Party Contact (RPC), and provide comprehensive property reports and valuations. Implementing field services dramatically increases the Client’s ability to communicate and contact customers/borrowers. Increased contact yields increased communication and lessens the need for more costly actions such as repossession and foreclosure. To ensure a higher contact rate, 24 Asset guarantees that contact attempts will be made during high contact hours, including evening and weekends. 24 Asset provides a full-range of regulatory-compliant residential and commercial inspection services including rush and Saturday service. A nationwide network of professional field service representatives will complete each job in a timely and cost-effective manner, consistent with applicable investor/insurer guidelines. The interior and exterior inspection services include: up to six (6) photos (including an address verification photo), property occupancy and general condition, exterior and/or interior condition, visible repairs, vandalism, code violations, insurance loss, and specialty – mobile/manufactured home, real property, trust, reverse mortgage, secondary mortgage, construction, merchant, FEMA, and vehicle.PROPRIETARY AND CONFIDENTIAL 14
  16. 16. BROKER’S PRICE OPINIONS 24 Asset provides Broker Price Opinions (BPOs) that are supportable and credible. All BPOs are checked through application of Automated Valuation Model (AVM) technology, which generates independent valuation estimates through analyses of neighborhood and/or zip code sold comparables and related variables. To further test valuation results, all BPOs are subjected to a strict quality-control process including independent review by an internal BPO expert, prior to delivery of the final valuation report. Utilizing proprietary technology, professional insight and local expertise, property valuations utilize a multi-model approach that combines the best aspects of professional appraisals and BPOs to create a highly reliable assessment of property market potential. In-depth neighborhood attributes provide context for automated valuation models, while rolling data updates improve accuracy in rapidly appreciating or declining markets. Each BPO includes: detailed neighborhood map, aerial imagery, interior/exterior photos, probable sale price, 90-day quick-sale price, and “as-is” and “as-repaired” values. Web-accessible downloadable completed BPO data automatically populates Fannie Mae, Freddie Mac and other Client- specified valuation forms. To prevent errors, each property address is validated, standardized, and geo-coded.PROPRIETARY AND CONFIDENTIAL 15
  17. 17. AVM AND APPRAISALS 24 Asset’s residential and commercial valuations facilitate optimum asset pricing, effective marketing, and efficient disposition of default properties. 24 Asset provides a family of results-driven valuation solutions tailored to its unique circumstances and business goals, which in addition to Broker’s Price Opinions, includes Automated Valuation Model (AVM) technology and Appraisals. Automated Valuation Model (AVM): The AVM engine analyzes up to 80,000 properties per hour generating a value for each property. The generated value is based on an average per-square-foot value of recently sold neighborhood/surrounding area comparable properties. While generating the property value, the AVM also generates a “confidence rating” based on the quality and distance of the comparables from the subject property. Appraisals: Licensed appraisers, backed by in-depth quality control oversight, deliver highly accurate appraisals that fully comply with regulatory and Client-specific requirements. Appraisals are based on exterior only or exterior/interior inspections, adjusted for comparable real estate values and neighborhood condition, and incorporate current market conditions/price trends.PROPRIETARY AND CONFIDENTIAL 16
  18. 18. PROPERTY PRESERVATION 24 Asset provides a variety of regulatory-compliant residential and commercial property preservation services to ensure that each property is secured and maintained consistent with applicable investor/insurer guidelines and Client requirements. Preservation Services include: securing and re-securing, debris removal, winterization, landscape (lawn) maintenance, snow removal, HUD convey maintenance, property rehabilitation, municipal code compliance, REO – securing, rekeying, broom swept condition, and rehabilitation. Automated Services: Automated services include grass cuts, winterization, securing and re-securing, plus a full complement of corrective/maintenance services designed to optimize property appearance, safety, and marketability. Client Specific Requirements: When a Client specifies an investor/insurer for a property, the investor/insurer guidelines in effect at the time will be followed, unless overridden by Client-specific requirements. For FHA properties, as well as properties for which the Client does not specify an investor/insurer, 24 Asset will follow FHA property preservation guidelines as described in the current Department of Housing and Urban Development mortgagee letters, unless otherwise directed by the Client.PROPRIETARY AND CONFIDENTIAL 17
  19. 19. MORTGAGE LOSS MITIGATION 24 Asset’s loss mitigation services provide the skill, knowledge, and resources to create effective marketing strategies for the life of the asset along with a full range of loss mitigation strategies and loan workout solutions. 24 Asset’s proprietary mortgage loss mitigation system offers a turn-key outsourcing solution for contacting delinquent borrowers and includes fully-customizable workflows, tasks, and reporting. Experienced multilingual representatives with deep mortgage experience are available and 24 Asset offers end-to-end capabilities from borrower outreach and document/financial package collection, to underwriting and trial period management, through closing with full-integration across contact management, field services, and fulfillment. Home Retention Services: Component services for HAMP and traditional loan modifications, 1st and 2nd liens, HELOC, GSE, FHA, VA and non-conforming mortgages, borrower solicitation and outreach, document retrieval and validation, underwriting and decisioning, trial period plan monitoring, title curative, closing, and notary services. Additional Loss Mitigation Services: Repayment, forbearance, and short refinance programs through national lending partners.PROPRIETARY AND CONFIDENTIAL 18
  20. 20. SHORT SALE FRAUD PREVENTION Rigorous screening processes are implemented to mitigate the increased likelihood of fraud during short sale proceedings. Screening and Verification Processes: • Comprehensive interviews of the homeowner(s) at the property to verify property condition and occupancy • Pre-screening and quality control review of all financial packages • Complete BPO and supporting documentation order and review • If the property is currently listed, homeowner and listing realtor relationship is evaluated (i.e. self, relative, etc.) • Pending offers are reviewed for arm’s length transaction status • If the homeowner is claiming a hardship (e.g. divorce, loss of employment, etc.) information is verified and validated Short Sale “Red Flag” Alerts: • Sudden default with no prior history of delinquency, especially if the borrower cannot adequately explain the default • Borrowers that default, while remaining current on all other financial obligations • Financial information that indicates spending, saving, and credit patterns inconsistent with the delinquency profile • Short sale property purchases by entities • Purchase contracts that contain an option clause to resell the propertyPROPRIETARY AND CONFIDENTIAL 19
  21. 21. FORECLOSURE MANAGEMENT A network of certified agents works closely with the loss mitigation team to drive transaction execution and accelerated timelines while carefully managing and monitoring all pre- and post-foreclosure processes. Pre-Foreclosure Services provide customized liquidation strategies to meet Client needs, experienced loss mitigation team with extensive liquidation experience, trained nationwide network of certified short sale agents, full valuation offerings including BPO’s and AVM’s, integration technology platform to manage outreach, documentation, transaction management and closing across internal and external parties, negotiation experience with junior lien holders and MI companies, and accelerated marketing campaigns including short sale auctions. Pre-Foreclosure options: Refinance, HAFA short sale, traditional sale, short sale auctions, deed in lieu (DIL), cash for keys (C4K), deed for lease, and lending options available for pre-qualifying borrowers for Clients without origination capabilities. Fulfillment Processes: Property listing, management services, offer qualification and review, counter offer management, and new loan escrow close and servicer pay off.PROPRIETARY AND CONFIDENTIAL 20
  22. 22. REO ASSET MANAGEMENT Professional and cost effective solutions for loss recovery and timely liquidation of REO properties, including: property preservation, title, closing, and curative services. REO Asset Management Benefits: Secure technology platform to facilitate and document communication between broker, asset manager and Client. Robust and extensive nationwide real estate agent network and REO brokers. A broker score system including training, inspections, and meetings with all brokers. Vendor network validation, including state license and E&O liability insurance verification. Marketing plans and selling strategies for each asset which are sent to each Client for review, feedback, and approval. Complete internal accounting reconciliation with the Client’s accounting team and robust reporting on a portfolio, campaign, seat, or loan level. REO Asset Management Services: Property preservation, tenant/property management, redemption management and coordination, cash for keys program (relocation assistance), BPO and appraisal ordering and reconciliation, aggressive marketing and follow up driven by days on market, title review including direct coordination with Client’s closing attorneys and/or title companies, title curative wherein resolution is attempted through communication with all transactional parties, foreclosing attorneys and borrower representatives, offer negotiation and contract execution, closing service coordination, and vendor compliance management.PROPRIETARY AND CONFIDENTIAL 21
  23. 23. SOCIAL RESPONSIBILITY AND BUSINESS VIABILITY 24 Asset recognizes that as a company their work may have a direct or indirect impact on the local, regional, and global environment. 24 Asset is committed to minimizing negative impacts and acting in a sustainably responsible manner, meeting the needs of their Clients without compromising work standards or the ability of future generations to meet their own needs. To this end, 24 Asset has made corporate commitments to the strategic redeployment of assets (properties), community revitalization, and environmental sustainability.PROPRIETARY AND CONFIDENTIAL 22
  24. 24. SOCIAL RESPONSIBILITY 24 Asset is committed to the socially responsible disposition of assets on behalf of all of its valuable Clients. Strategic Redeployment: Assets are reintroduced to the marketplace through innovative and socially responsible disposition methods in conjunction with municipalities, communities, and neighborhoods. Public and private programs are identified and utilized to assist prospective homeowners, including: Section 8 Homebuyer, FHA 203(k) renovation loans, FHA reverse mortgages , Fannie Mae HomePath®, FNMA and FNMAC Direct Seller, and down payment assistance programs. A self-financed homeownership program for first time buyers as well as a “second chance” buyer program for borrowers adversely affected by unfavorable market conditions are also employed. Community Revitalization: The need for immediate occupancy in targeted markets is identified to reduce the neighborhood instability that continues to thwart economic development and real estate growth. State-of-the-art management systems are implemented to ensure all assets are managed and physically maintained during the process to ensure superior industry property preservation standards, mitigate vandalism, prevent blight, and encourage community confidence. Grass roots and local organizations such as Home Free USA, NeighborWorks sponsored non-profits and the National Faith Homebuyer Program serve as instrumental marketing outlets for assets.PROPRIETARY AND CONFIDENTIAL 23
  25. 25. ENVIRONMENTAL SUSTAINABILITY 24 Asset’s Environmental Sustainability core commitment revolves around the 3Rs (reduce, reuse, recycle). This strategy focuses on: reducing consumption of resources, energy, and materials during day-to-day operations; reusing or remanufacturing items; and recycling material after initial use. All employees, managers, and vendors are encouraged to “Be Seen Going Green” and are required to integrate the following green guidelines into every day actions: Reduce! 24 Asset encourages all employees and vendors to reduce the production of waste through the use of electronic communications. Unless a Client requests otherwise all quotes, invoices, and other communications are sent via email (or secure FTP transmission), thus saving on paper and carbon miles for postage. Lights, computers, and appliances are turned off (or unplugged) when not in use. Electronic documentation and imaging is utilized to provide a paperless filing option. Reuse! Misprints are reused as scratch paper and/or shred for packing materials paper where possible. Recycled office supplies (e.g. toner, paper, etc) are purchased when and where possible to reuse available resources. Recycle! At the end of its practical life hardware which is in good working condition is cleared of information and donated to local non-profits or educational institutions in socially or economically challenged communities. Hardware which is not viable as an operational unit is passed to the local electronic recycling facility or equivalent to be refurbished or used as parts. Paper recycling/shredding receptacles are strategically located around the office and recycling receptacles are located in the employee break-room.PROPRIETARY AND CONFIDENTIAL 24
  26. 26. BUSINESS VIABILITY As the servicing (and sub-servicing) landscape becomes more complex from a regulatory and compliance standpoint, the need for a comprehensive understanding and flow of information between partners becomes more and more essential. 24 Asset recognizes the necessity for regular performance data, scorecards, and reporting to be accompanied by compliance and business viability documentation. 24 Asset is fully-committed to ensuring that all Clients maintain the utmost level of confidence in all of their solutions and services (both front-line and behind the scenes). 24 Asset appreciates that an effective and productive vendor-management model includes vendor oversight initiatives, audits, and quality control. 24 Asset also believes that the responsibility for these initiatives shouldn’t fall entirely to the servicer. As a trusted vendor/sub-servicer 24 Asset has created a Business Viability Manual which details key risk management procedures, statutory compliance, and financial stability. 24 Asset strongly believes that operational performance can be optimized for both the servicer and vendor by proactively providing this manual to each Client. Complete demonstration and documentation of business continuity, compliance/risk management, internal controls, policies and procedures, and financial stability are the primary goals of 24 Asset’s Business Viability Manual which is provided to each Client upon execution of a contract and updated every six months or more frequently, should the Client request it.PROPRIETARY AND CONFIDENTIAL 25
  28. 28. CONTACT INFORMATION 1450 Frazee Road, Suite 301 13155 SW 42nd Street, Suite 200 San Diego, CA 92108 Miami, FL 33175 24Asset.com 24Asset.com Greg Seale Eduardo San Roman CEO President Phone: (855) 414-2424 ext. 251 Phone: (855) 414-2424 ext. 325 Fax: (619) 245-2281 Fax: (786) 999-0998 G.Seale@24Asset.com E.SanRoman@24Asset.com Mitch Bonilla Don Maxwell Executive Vice President Executive Vice President Phone: (855) 414-2424 ext. 401 Phone: (855) 414-2424 ext. 204 Fax: (619) 639-2817 Fax: (786) 513-2432 M.Bonilla@24FinancialServices.com D.Maxwell@24Asset.comPROPRIETARY AND CONFIDENTIAL 27