Experts Available to Discuss Help for Employees Facing Foreclosure

Business Wire, June 25, 2008

ExpertSource:

TOPIC: As mortgage troubles continue, a few companies are stepping in to assist their employees who are facing foreclosure, according to an article by the Wall Street Journal. These companies are providing interest-free loans, grants, employee-assistance programs and educational seminars on personal finance. A survey, conducted in 2007 by the Society of Human Resource Management, found 20% of employers received more requests for pay advances from employees than in 2006. In addition, 39% of participants noticed an increase in withdrawals from retirement savings, which can be an indicator of financial problems.

EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story:

Cheryl Lang is president of Houston-based Integrated Mortgage Solutions (IMS), a collateral protection resource for the mortgage servicing industry. Lang can provide expert commentary on best practices for avoiding eviction. Lang is responsible for the company's growth through accounting and operation management as well as the development of new products drawn from her deep knowledge of conventional, subprime, and HUD/VA mortgage servicing. She also conducts onsite visits with clients to maintain positive relationships and feedback on performance and enhancements. Lang brings more than 20 years of mortgage service industry experience to IMS and runs the gamut of mortgage servicing activities (default administration, portfolio sales/acquisitions, escrow administration, property preservation, and repair process management).

Prior to joining the company, Lang has held several positions in senior management at top 25 mortgage servicers, including vice president of Sales and Acquisitions for nine years at Tampa, Fla.-based Chase Manhattan Mortgage, where she managed more than 60 portfolios with balances totaling $62 billion and more than 80 bulk and flow servicing sales with balances in excess of $20 billion. As the vice president of the Mortgage Advisory Division of Miami, Fla.-based Bayview Financial Trading Group, Lang developed a departmental MIS project plan that combined analytics and sales tasks, enhanced internal communications, managed resources and tracked time and expense by client. In addition to her implementation of mortgage servicing technology, Lang managed, trained and coached various clerical and management levels within hazard processing, flood map tracking, tax contract services and vendor relationships while serving as the vice president for Loan Administration at Miami, Fla.-based Interbay Funding. Lang received a bachelor of arts in Business Administration from Eckerd College in Florida. She holds a Woman Business Enterprise Certificate (WBEC), a Certified Texas Historically Under Utilized Business (HUB) and has been a member the Better Business Bureau and Mortgage Bankers Association (MBA) since 2002.

PR Contact: Joy Harper

678-781-7208

joy@williammills.com

Marc Berger is a principal of XRoads Solutions Group with offices in New York City and Santa Ana, Calif. He heads XRoads' Homebuilding Practice that provides expert advice and financial consulting to distressed real estate companies facing today's increasing market, financial and operational difficulties. During the severe economic and real estate downturn of the early 1990s, he was a senior manager with Kenneth Leventhal & Company, at that time the nation's leading real estate CPA and consulting firm. Berger participated in the workout and financial restructuring of many of the country's largest real estate companies and gained knowledge and expertise that few real estate consultants have today. From his experience in the early 1990s, Berger is also proposing a national solution to the foreclosure crisis, and that is for the federal government to establish an entity similar to the Resolution Trust Corporation, which was formed by the federal government in the late 1980s to resolve the S&L crisis. Berger's concept is to create what he calls the Housing Recovery Corporation, which would be patterned after the RTC and work directly with distressed homeowners to refinance their mortgages. Berger has more than 25 years of experience advising real estate and homebuilding related firms on strategic alternatives, financial restructurings and corporate finance transactions. He has extensive expertise in single family and multifamily development including, acquisitions, dispositions, valuations, restructurings, and project and entity financings. Berger was a partner at PricewaterhouseCoopers where he was the director of West Region Real Estate Consulting and global real estate "E" business. He was also a partner with Arthur Andersen, where he was responsible for the firm's real estate advisory services practice. As Berger says about current housing industry crisis: "Been there, done that."

949-567-1649

mberger@xroadsllc.com

Richard Maize, associate of Mortgage Capital Partners, is an expert source for real estate finance and lending practices based on 20+ years as a top level leader in the industry. He is the co-founder of the largest leading mortgage brokerage firm in the country. Maize is a former KCAL news commentator on real estate marketing and finance and former regular guest expert on KHWY's Mortgage Update segments. He is a licensed real estate professional, developer and financier and developer of "Power Pak" loan processing software rated one of the best technologies in the industry. Maize is well presented, articulate and intelligent in all aspects of the mortgage banking industry, trend spotting and analysis of the sub-prime meltdown, its consequences on the economic stability of the country, foreclosures, Federal Reserve rates and analysis, housing slumps, origination, commission structures, mortgage management and employee motivation and staffing, personnel, management and business issues.