Connects lenders with vendors providing REO management services

Littleton, Colo., Dec. 7, 2009 – Lenders Asset Management Corporation (LAMCO), a full-service, nationwide REO management company that offers comprehensive REO services, announced it is now providing to any institution that holds REO portfolios access to its national network of REO suppliers and industry contacts created during its more than 20 years in business through its LAMCOnetwork. This Internet portal connects lenders, investors, consumers and others with suppliers of REO services throughout the country.

The LAMCOnetwork connects institutions that do not partner with an REO asset management company and need help managing REO properties with experienced third-party vendors, such as REO realtors, appraisers, contractors and others in a one-stop, intelligent database. The national network of vendors provides support across the continental United States, plus Alaska, Hawaii, Guam, Saipan and American Samoa.

Lenders, servicers and investment entities benefit from free access to service providers who can assist them in any stage of the REO default process. For vendors, the LAMCOnetwork is a powerful, low-cost marketing tool that provides them with national exposure in their local footprint to both LAMCO’s asset managers as well as to other asset management companies, banking institutions, servicers and REO industry professional in need of their services.

“The LAMCOnetwork is the only national database of its kind provided by a national REO asset management company,” said Brandon J. Hawkes, CEO of LAMCO. “It is an easy tool that serves as a bridge between mortgage lenders, consumers and other industry professionals and experienced REO service providers.”