Default Management Firm Makes Annual Inc. Magazine List
It's probably a sign of the times; default management firms are growing like weeds these days, and one has made it to the annual Inc. 5000 list. That firm? Houston-based Integrated Mortgage Solutions, a collateral protection resource for the mortgage servicing industry. IMS has tripled revenue in the past year, as the volume of foreclosures has soared during the same time. IMS specializes in protecting the value of their client's real estate collateral during the foreclosure and default life cycle of a mortgage loan, including events leading up to the foreclosure process. IMS provides loss mitigation services on a third-party basis between the servicer and the borrower, as well. "Inc. magazine and its distinguished lists are well known in any industry," said Cheryl Lang, president of IMS, in a press statement. Lang notes that while she doesn't "revel in increased mortgage foreclosure volumes," the company is proud of its work with servicers and investors to manage risk and help keep borrowers in their home, when possible. IMS' Inc. 5000 inclusion will be recognized at a ceremony September 18-20, 2008 at the Gaylord National Resort and Convention Center in Washington, D.C. Lang's been extremely busy in 2008; earlier this year, she also helped launch the first national non-profit foundation for pets abandoned in foreclosure, called No Paws Left Behind. Read more about her effort to help foreclosure's silent victims from an earlier HW story. For more information, visit www.imstoday.com.