March 31, 2020         
Citi Hires Women-Owned Firms to Lead Distribution of $4 Billion Citi Bond Issuance to Commemorate Women’s History Month   •   ESSENCE Launches New Digital Series Focused on the Impact of COVID-19 on Black America   •   Lifestyle brand and online community, One Tough B helps connect and support women during the coronavirus pandemic   •   FiftyFlowers Is Still Shipping Flowers From Partner Farms to Doorsteps During Pandemic   •   Kohl’s Extends Temporary Store Closures Nationwide and Provides Business Update in Response to COVID-19 Pandemic   •   Gabriel & Co. Stands Ready To Help By Donating 100% Of Proceeds From 91>19 Unisex Bangle   •   Estrella Media Teams Up with Top Regional Mexican Recording Artists to Launch “Cuídate,” an Emblematic Music   •   Rain The Growth Agency Supports Launch Of Virtual Daycare Educational Series: "The Fab Lab With Crazy Aunt Lindsey"   •   How a Smart Home Helped a Senior Citizen During Social Isolation   •   Publix Offering Rent Relief in Publix-owned Shopping Centers   •   New Health and Safety Protocols from Women's Excellence During the COVID-19 Outbreak   •   Invacare Corporation Named a 2019 Winning “W” Company by 2020 Women on Boards   •   Spanish Broadcasting System Schedules Fourth Quarter And Full Year 2019 Conference Call   •   Statement From ESSENCE Communications, Inc. on the Postponement of the 2020 ESSENCE Festival of Culture   •   Crocs Provides an Update on the Business Impact of COVID-19   •   Les Femmes Michif Otipemisiwak Calls for Gendered Lens in COVID-19 Economic Response Plan   •   Spanish Broadcasting System, Inc. Reports Results for the Fourth Quarter 2019   •   We The Best Foundation partners with Direct Relief and simplehuman to fight COVID-19   •   byte Steps up to Fight COVID-19   •   Hemisphere Media Group Provides Update Related to COVID-19 Impact
Bookmark and Share

Hispanic Lender Outreach Program Launched

 HOUSTON -- Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, has launched a specialized loss-mitigation service for mortgage lenders with Hispanic borrowers.

Although Spanish-speaking customers make up a significant portion of the home purchasing public, studies show that this group has a disproportionate share of defaulting and foreclosed properties. According to the Center of Responsible Lending, approximately 8 percent of Hispanic borrowers who received loans from 2005-2008 have lost their homes to foreclosure. Moreover, an estimated 21 percent of all owner-occupied loans at imminent risk of default (60+ days delinquent) were made to Hispanic borrowers. In recognition of this underserved community, Stewart has developed a specific offering targeted to this important demographic.

Through its wholly owned subsidiary, Home Retention Services, Inc., (HRS) Stewart Lender Services performs loss mitigation solicitation and outreach services for its lender clients. HRS performs borrower outreach, lettering and mailing services, as well as loss mitigation underwriting in both English and Spanish.

"We've made a concerted effort to hire Spanish-speaking mortgage professionals, from loan counselors to underwriters, to staff our loss mitigation call center," said Jason Nadeau, president of Stewart Lender Services. "Currently 40 percent of our staff is proficient in Spanish. And as a leading provider of loss mitigation services, we believe we are offering a premier service to this community."

Stewart's loss mitigation center provides borrowers with counseling for the Home Affordable Modification Program, traditional modification programs, short sale solutions and other loss mitigation options.

As one of the industry's foremost loss mitigation organizations, Stewart Lender Services has found that approximately one out of every five borrowers counseled prefers talking with a Spanish-speaking loan counselor. Many of the calls received are a result of Spanish language mailings sent by Stewart's in-house mail center to delinquent borrowers.

"With large concentrations of delinquencies in Florida, California, Arizona and Nevada, Stewart recognized early on the importance of being able to connect with Spanish-speaking customers upon their first call," said Nadeau. "We've eliminated the complication of a call transfer and equally important, provide all documentation, letters and other correspondence in Spanish. In many cases this eliminates the need for the borrower to place a phone call or obtain other assistance in order to understand the requirements of the various loss mitigation programs."


STORY TAGS: HISPANIC , LATINO , MEXICAN , MINORITY , CIVIL RIGHTS , DISCRIMINATION , RACISM , DIVERSITY , LATINA , RACIAL EQUALITY , BIAS , EQUALITY



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News