24 Asset prides itself on a commitment to providing Clients with default management services in a centralized environment. 24 Asset’s Client-centric methodologies, high-touch approach, and proprietary technology ensure state-of-the-art service while maintaining a personal connection with the Client and the borrower, resulting in improved portfolio performance and a superior borrower experience.
Unlike most asset management companies, 24 Asset is a full-service collection agency and Master Servicer, allowing 24 Asset to handle all pre- and post- charged-off responsibilities of an account including bankruptcy, probate, legal collections, agency and legal network management, and reporting to the credit repositories. 24 Asset is a technology, modeling, and dashboard driven company with the ability to report to all three major credit reporting agencies, TransUnion, Equifax, and Experian (24 Asset is also contracted with CBC).
With corporate offices located in the Eastern, Southeastern and Western United States, 24 Asset is able to provide service across all four time zones.
24 Asset offers a full-suite of fully-compliant contact management solutions wherein borrowers are engaged by an experienced team of collections and mortgage professionals.
24 Asset prides itself on: industry leading Quality Right Party Contact (RPC), one-touch resolution processes, high quality borrower engagement with every interaction, and respect and professionalism in all communications. Nationwide licensing eliminates the need to invest in licensing costs or deal with state compliance issues and Spanish speaking 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, multilingual, and FDCPA certified staff for nationwide contact.
Contact Management Services include: proprietary servicing platform, FDCPA and teleservices compliance certification for all representatives, customized inbound and outbound call campaigns, state-of-the-art phone technology and fully integrated CRM system, integration into major servicing platforms, time synchronized proven outreach process through 4 pronged approach – calls, letters, skip and face-to-face visits, multi-lingual representatives, dedicated internal skip tracing team, live “warm” transfers, dedicated toll-free numbers available for assignment based on campaign/servicer requirements, monitoring, lettering, imaging, tracking, and reporting.
Fully customizable skip tracing and field services 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. All products are designed for default management professionals. 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 of borrower information.
24 Asset’s full spectrum of field contact services and result-driven business solutions are customized to complement the Client’s existing workflow dynamics, optimize portfolio performance, improve default management operations, and achieve targeted Client goals.
Through our sister company, Assero, we provide a full range of services. Assero Services is a national field service company providing property preservation, maintenance, renovation & repair, inspection, HOA and Utility services, tenant occupied services, vacant property registrations and additional valuable services to some of the nation’s largest Financial Institutions, Government Sponsored Enterprises, Investors, Asset Management Companies, Banks, and our Broker Network.
We understand the unique challenges facing our industry and offer comprehensive solutions that streamline the management and protection of each asset. We also realize and understand that REO clients have, as a core requirement of our services, a rapid turnaround of each assigned property to bring that asset to market. Through our client accessible internet software, our corporate headquarters, regional offices, asset managers, inspectors, and contractors have the necessary tool to provide up the minute work orders, service requirements, task orders, and property specific messages in order to meet time requirements. Our core competency in vendor management combined with our proprietary industry leading technology platform enables us to effectively measure our solutions to the industry’s growing needs. Email us at Info@assero24.com
All collection services are performed in a fully-compliant manner through 24 Asset’s proprietary collection platform which supports all stages of the collection life cycle from early out through post charge-off.
Platform Capabilities include: payment tracking and servicer reporting (payment date, amount and method) as well as 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 Serviced, include but are not limited to: auto loan and auto lease deficiency balance accounts, bankrupt and dismissed bankrupt accounts, business loans with PG’s, cable, commercial accounts, consumer loans, lines of credit, credit cards, delinquent mortgage accounts, demand deposit accounts (returned checks/overdraft), first and second residential mortgage loans, installment loans, mortgage loss mitigation, municipalities, pay day loans, private label credit cards, residential real estate, returned checks, small commercial loans, telecommunications, and utilities.
Accepted methods of consumer payment include: MasterCard, Visa, Discover, American Express, Western Union, MoneyGram, debit card, check by phone, checks, money orders, cashier checks, cash deposits, and wire transfers.
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 and a full range of loss mitigation strategies and loan workout solutions.
24 Asset’s proprietary mortgage loss mitigation system offers a quick and easy outsourcing solution for contacting delinquent borrowers, and includes fully-customizable workflows, tasks, and reporting. Experienced bi-lingual representatives with deep mortgage experience are available and 24 Asset offers end-to-end capabilities from borrower outreach, document collection, underwriting, trial period, and closing with full-integration across call center, field services, and fulfillment.
Home Retention Services include: component services for HAMP and traditional loan modifications, 1st liens, 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, closing services, and notary services.
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 include: secure technology platform to facilitate communication between broker, asset manager and client; robust and extensive nationwide real estate agent network and REO brokers; 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, sent to client for review, feedback, and approval; complete internal accounting reconciliation with client accounting team; and robust reporting at loan level, monthly, and quarterly intervals.
REO Asset Management Services include: 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.
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 include: 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.
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.
Fulfillment Processes include: property listing, management services, offer qualification and review, counter offer management, and new loan escrow close and servicer pay off.
24 Asset, provides both buyers and sellers opportunity to purchase/sell from some of the leading lenders and resellers in the nation.
With acquisitions of approximately $10 billion, and sales of approximately $5 billion across several different asset classes and performance categories, bulk (one-time) or forward flow transactions, 24 Asset offers the experience, reputation and performance to guide and consult Clients through even the most difficult and complicated trade transactions.
24 Asset’s licensed team of professionals, state of the art technology, skip tracing capabilities, and innovative leadership create a centralized resource solution from portfolio sourcing and valuation through management and sales. 24 Asset leverages extensive compliance controls, advanced telephony systems, and consistent competitive expertise to increase portfolio value, meet short and long term cash flow goals, and minimize bad debt expenses.
As a portfolio manager, 24 Asset has experience in all stages of the debt life cycle from analyzing debt portfolios and servicing accounts on a forward flow basis to facilitating timely and profitable sales on behalf of all Clients. Additional features and benefits include: pre-sale/acquisition portfolio scrubbing, valuation, cash-flow predictability modeling, analytics, due diligence, file review, stratification reports, portfolio segmentation, post acquisition liquidation strategy, and master servicing solutions.
GSA Schedule, Financial and Business Solutions
24 Asset is proud to announce that they have been awarded a GSA/FAS Schedule Contract for Schedule 520, Financial and Business Solutions. Contract # GS-23F-0023Y. Through this contract, 24 Asset will be offering their best in class services and solutions to all Federal agencies. 24 Asset’s Schedule Contract is for Special Item Numbers:
520-2 Transaction Specialist: 24 Asset can assist agencies in all asset resolution related areas including valuation/pricing, portfolio stratification, restructuring and disposition strategies which best meet agency goals. Make specific recommendations as to the best execution. Conduct a sale or other disposition vehicle. Provide marketing expertise, budget and credit reform analyses.
520-4 Debt Collection: Wherein 24 Asset will provide collection services and servicing of defaulted loans which may include borrower negotiations, restructuring, and workout agreements.
520-5 Loan Servicing & Asset Management: 24 Asset will assist agencies in servicing, monitoring and maintaining loan assets which may include establishing loan database, remittance processing, verify and update borrower data, issue forms and correspondence, process loan cancellations and consolidations, billing services, credit bureau reporting, and transfer and discharge loans. Provide servicing of troubled loans which may include borrower negotiations, restructuring, foreclosure and supervision of the sale of the collateral and workout agreements.
To view 24 Asset’s Authorized Federal Supply Schedule, please click here.
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