Xome® Xpert Seller Pre-Foreclosure Solution

How Xpert Seller is Helping Homeowners Exit Gracefully, Avoid Foreclosure, and Retain Equity

Loss mitigation has traditionally been a complex and labor-intensive process within mortgage servicing, often requiring manual intervention, detailed paperwork, and prolonged communication with distressed homeowners. Unfortunately, these efforts frequently ended in a foreclosure sale. With more than half of these foreclosure sales becoming REO inventory, even more losses are incurred by the servicer and beneficiary as carrying costs, legal fees, property preservation fees, and a host of other expenses continue to mount for the servicer and the investor behind the defaulted mortgage. In the past, this process was the only option for servicers, as the vast majority of homes with defaulted mortgages were deeply underwater. The opposite is true today, giving servicers the option of helping homeowners sell their homes, realize the equity from the sale, and make a graceful exit.

Early Intervention & Homeowner Options

There are numerous ways that servicers can assist homeowners as they start to miss mortgage payments. The best method is to be in contact with the borrower when they miss their first payment to ascertain the likely path they are headed towards. More often than not, the missed payment was just an oversight, but for some, this is the first step towards a long slide into default. Identifying the issue early and helping homeowners learn about their options, especially if the owner has equity, is crucial. An owner with equity can sell their home now, avoid negative impacts to their credit rating, and walk away with cash. The trick is minimizing sale transaction costs and commissions so the homeowner walks away with as much of their equity as possible.

Transforming Loss Mitigation with Xpert Seller

The Xome® Xpert Seller program is transforming the loss mitigation landscape, making it more efficient and homeowner-centric. Xpert Seller is reshaping how mortgage servicers approach default management, enabling them to respond to challenges more effectively and create better outcomes for both homeowners and lenders.

Comprehensive programs like the Xpert Seller program provide homeowners with flexible solutions and offer the support and guidance needed to help them feel empowered and confident in overcoming their financial hardship and achieving the best possible outcome. The Xpert Seller program is integrated into loss mitigation strategies, providing a more holistic approach to preventing foreclosure and supporting homeowners in crisis.

• • Tailored Solutions for Distressed Homeowners: The Xpert Seller program provides homeowners with clear, easily accessible pathways to resolve their mortgage default without the stigma or complexity of traditional foreclosure proceedings. Designed with homeowner outcomes in mind, the program offers greater flexibility and better terms, helping homeowners retain more equity in their homes.

• • Reducing Foreclosures: By offering distressed sellers options that allow them to exit homeownership on their terms, servicers can reduce foreclosure rates and mitigate the negative financial impact on both the homeowner and the lender. The focus shifts from an oppositional to a more cooperative and mutually beneficial solution, ensuring that homeowners can leave their homes with dignity and financial stability.

• • Better Homeowner Outcomes: Xpert Seller matches homeowners with the most appropriate loss mitigation solution based on their unique circumstances. This leads to improved homeowner satisfaction, as they feel their needs are being addressed with tailored solutions designed to help them get back on track financially and retain as much equity as possible.

• • Enhanced Customer Service: The Xpert Seller program offers homeowners personalized support from a dedicated Xome Concierge® team member and a local agent throughout the entire selling process. From understanding their options to listing and finalizing the sale, homeowners receive guidance every step of the way, ensuring a smooth and stress-free experience.

The Future of Loss Mitigation

Given the current market trends, the demand for effective loss mitigation solutions will continue to rise, making them a top priority. As the industry evolves, programs that provide proactive and impactful support will become essential in ensuring the best outcomes for both homeowners and servicers. Programs like Xpert Seller help servicers offer faster, more personalized solutions to homeowners, helping them navigate financial hardship and reduce the risk of foreclosure. For the industry as a whole, programs like Xpert Seller will lead to improved stability, better outcomes for homeowners, and a more efficient and profitable business model.