FAQ
FREQUENTLY ASKED QUESTIONS

Mortgage Repurchase Demand Services

What kind of repurchase demands does RPM handle?

What is RPM’s success rate?

How does RPM achieve such a high success rate?

How is RPM compensated?

What is RPM’s turnaround time?

What type of security does RPM utilize?

Q. What kind of repurchase demands does RPM handle?

A. RPM assists our clients with repurchase demands involving occupancy issues, employment issues, appraisal issues, straw borrowers, stated and other income issues, false verifications and undisclosed debts. We handle initial responses as well as appeals of cases in which clients have been wholly or partially unsuccessful in their own attempts to seek rescission.

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Q. What is RPM’s success rate?

A. In 2012, RPM achieved a 74 percent success rate for all repurchase demands challenged. In the past 18 months, RPM has saved one super-regional bank alone over $23 million.

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Q. How does RPM achieve such a high success rate?

A. RPM differs from other firms currently doing repurchase demand defense. Some firms are staffed by mortgage compliance experts; others by appraisers. But RPM is a boutique firm comprised of attorneys, underwriters, appraisers and other highly skilled mortgage banking professionals who have a unique niche: subject-matter expertise in analyzing and defending buyback demands from the GSEs and other third-party investors. We operate in a highly collaborative way, with all of our professionals strategizing on each case to come up with the best and most effective defense possible.

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Q. How is RPM compensated?

A. We can virtually guarantee that RPM will dramatically increase any lender’s percentage of successful rebuttals. In fact, we are so confident in our ability to get a repurchase demand rescinded that we handle all claims on a contingency basis. That means you pay nothing unless we are successful.

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Q. What is RPM’s turnaround time?

A. Upon receipt of a loan file and demand letter, RPM will being the research process to determine if a defense can be provided. If so, RPM will immediately begin to put together a response. If not, the client is advised as soon as possible that we believe a repurchase is warranted. Depending on the complexity and number of repurchase issues, response times may vary from file to file; however, we are adept and experienced at completing our work within the time frames required by the
investor.

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Q. What type of security does RPM utilize?

A. Our clients provide RPM with loan files in Adobe Acrobat format utilizing a secure mechanism as determined by the client or via secure FTP server using strong cryptography. Any e-mail communications will be encrypted using strong cryptography. RPM has satisfied the consumer confidentiality and security requirements of all of our banking clients, and we are fully compliant with applicable Gramm-Leach-Bliley and other legal confidentiality and consumer protection requirements.

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Portfolio Management Services


What type of accounts does RPM handle?

How can RPM supplement and significantly improve on the performance of typical high-volume servicers?

What type of expertise can RPM provide which will improve the return on mortgage loan and REO portfolios?

Can RPM provide legal services to assist with difficult collection and third party liability issues?

Can RPM reduce the level of costs and fees that are presently being charged by servicers and third party vendors?

How is RPM compensated?


Q. What type of accounts does RPM handle?

A. RPM’s team members have a proven track record of improving returns on many different types of mortgage portfolio assets, including first lien mortgages, second lien mortgages, HELOCs, and REOs, regardless of whether the asset is performing, sub-performing or non-performing. RPM has developed a specific set of asset recovery strategies that are uniquely designed to maximize return on investment in each scenario. If you have a mortgage loan or REO portfolio, we are the asset management experts for the job
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Q. How can RPM supplement and significantly improve on the performance of typical high-volume servicers?

A. RPM can improve upon your current mortgage loan servicing and recovery efforts in a multitude of ways. We believe the volume-based servicers and collectors do an excellent job in managing mortgage loan portfolios in bulk. However, the sheer volume of assets that these servicers manage provides substantial challenges relative to providing specialized resolution attention on an individual, mortgage-loan-by-mortgage-loan basis. Volume servicers typically focus on broader-based portfolio resolutions, which may not be effective for each particular asset. It has been RPM’s experience that substantial value can be added to mortgage loan and REO portfolios by providing specialized care and attention on a mortgage-loan-by-mortgage-loan basis, which, by their nature, the volume servicers are simply not equipped, nor financially incentivized, to provide. Indeed, our experience has proven that this type of added value on an individual loan level basis is the key factor that typically makes the difference between a return that vastly exceeds the market average for mortgage loan or REO portfolio sales returns and the return on a portfolio sale that merely equals, or falls below, the market average.
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Q. What type of expertise can RPM provide which will improve the return on mortgage loan and REO portfolios?

A. RPM team members have an aggregate of over 200 years of mortgage lending, real estate, legal, servicing and collection industry experience. Members of our team have been personally involved in the origination and sale of over $20 billion in residential mortgage loans over the past seven years. In addition, team members have been personally involved in originating, underwriting, documenting and selling residential mortgage loans for many years. Our team’s vast experience in these areas and hands-on approach ensures an individual assessment of the documentation, compliance, property value and servicing records of every mortgage loan or REO we manage, which typically results in improved asset returns.
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Q. Can RPM provide legal services to assist with difficult collection and third party liability issues?

A. RPM’s in-house staff and attorney network can handle a variety of legal issues that may arise in the course of managing and maximizing the return on your mortgage loan or REO portfolio, including filing lawsuits against the debtor or a third party who may have liability relative to an asset’s reduction in value, as well as relative to foreclosure and bankruptcy issues.
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Q. Can RPM reduce the level of costs and fees that are presently being charged by
servicers and third party vendors?


A. RPM conducts an independent and thorough review of all fees, costs and charges (collectively “the Charges”) assessed to its client by servicers and third party vendors. The purpose of this review is to verify (a) whether the Charges are legitimate (i.e. there has not been an internal inaccuracy or instance of overbilling for work performed) and (b) whether the Charges have been properly apportioned to our Client (i.e., whether the Charges are legally the responsibility of the servicer, prior owner or other third party pursuant to the applicable contract or other legal documents). In the event we determine that the Charges are incorrectly calculated or apportioned to our Client, our in-house legal team will notify the billing party that a mistake has been made and negotiate the resolution and cancellation of the Charges. This asset enhancement review alone can save tens of thousands of dollars in portfolio expense.
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Q. How is RPM compensated?

A. RPM receives a monthly portfolio management fee, and in certain cases, a resolution fee of 1 percent of the unpaid principal balance for each challenged mortgage loan workout arrangement (i.e., a refinance, short or full pay-off, mortgage loan modification agreement, forbearance agreement or deed in lieu of foreclosure). Our client is responsible for all legal and third party vendor fees and expenses incurred with respect to collection and mortgage loan management efforts.
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Please refer to RPM’s Case Studies to examine specific examples of the various types of asset value enhancement that RPM team members have accomplished utilizing our vast multi-disciplinary experience and expertise.
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RPM Oversight | 321 E. Hillsboro Blvd., Deerfield Beach, Florida 33441 | 866-661-4776