Sorrento Capital Launches MortgageOutreach.org
[Update: MortgageOutreach.org is the name of the education site] Sorrento Capital, a private asset management firm, launched MortgageOutreach.org, designed to educate homeowners struggling to make to their mortgage payments. Sorrento’s subsidiary, MOS Group, leverages the no-cost site that provides information on options available to sinking borrowers such as loan modifications, refinances, short refinances, short sales and foreclosures. The site also warns borrowers to avoid companies charging upfront fees to modify a loan, provides background on current government and lender programs and supplies the “do’s and don’ts” when applying for HAMP and HARP relief. “Recent research shows that as many as 50% of foreclosures occur without any live communication between homeowner and lenders,” says Robert Knohl, CEO of Sorrento Capital, in a release. “Unfortunately this is not a problem that will just go away for borrowers.” Write to Jon Prior.