InterCede™

InterCede is designed to meaningfully reduce a financial institution’s loss severity. It is an effective, ongoing loss mitigation tool which provides significant savings to a specific universe of eligible delinquent borrowers whose properties would otherwise go through a lengthy and typically adversarial foreclosure, then a protracted and costly REO resale - before any asset recovery occurs.

Because most financial institutions continue to rely primarily on the traditional time consuming and adversarial method of foreclosure to recover an asset - including eviction and lengthy REO resale - significant cost savings are sacrificed.

InterCede is an unmatched service designed to eliminate the lengthy, expensive, and typically adversarial foreclosure process. With InterCede, Promisor acquires the property at appraised value directly from the delinquent borrower allowing the loan to be immediately paid off. This saves the lender significant losses by completely eliminating the foreclosure process and subsequent REO resale which nationally averages 430 days. With InterCede, Promisor pays off the loan in cash in an average of 42 days with another 96 days to sell the home. The cost savings to the financial institution through InterCede are dramatic; $20,000 to $30,000 per loan.

InterCede’s costs are comprised of the actual costs of recovering the asset. Promisor designs specific packages to meet specific client criteria. Its methodology regarding pricing, billing, and funding including possible performance incentives is responsive yet client specific. It takes into account the anticipated volume of assets to be acquired and their geographic locations, as well as other client specific criteria related to the process.

To learn more about InterCede, please click here.