Two decades of managing REO process illustrates company’s experience, stability and long-term commitment to mortgage industry

Littleton, Colo., Oct. 29, 2009 – Lenders Asset Management Corporation (LAMCO), a full-service, nationwide default management company that offers comprehensive REO management services, announced it is celebrating 20 years of operation serving the mortgage industry.

Since 1989, LAMCO has delivered customizable REO solutions that enable lending institutions, servicers, investment firms and insurance entities the ability to cost-effectively scale operations and liquidate REO assets with mitigated risk. Up to present date, LAMCO has liquidated more than $5 billion in residential assets for some of the largest financial institutions in the nation.

In the last two decades, LAMCO has created a steady track record of successful disposition management operations, averaging a 45-day turn-time on REO properties it liquidates, compared to the industry standard, which is significantly greater. Also, LAMCO has consistently averaged 90 percent of BPO value per property sale.

Within the first three years of operation, LAMCO signed one of the top five lenders in the United States, and for 17 years this active national client has continued to utilize LAMCO as a critical outsourced business partner for their REO disposition.

In 1999, LAMCO took a visionary approach to using the Internet as a business tool. While most companies at the time used Web sites as a marketing and promotions tool, LAMCO developed its site as a workflow management portal, enabling clients to order and monitor traditional REO services such as property inspections, relocation assistance, preservation, marketing and liquidation online in real-time. To date, tens of thousands of properties have been liquidated through this system.

“LAMCO has grown steadily and cautiously since its inception, devoting our efforts to reducing costs, mitigating risk and improving liquidation efficiency to accelerate recovery for the local community as well as the institution and its shareholders,” said Brandon J. Hawkes, CEO of LAMCO. “We facilitate the preservation and revitalization of communities by providing customizable solutions to the REO industry.”