Lunar Provides Services to Banks…

Lunar Site Pic 8Many of the same banks that sell assets to Lunar often hire us as a third party specialty servicer to perform asset management, loan work outs, and property preservation for a fee.

Asset Management: Referred to as “boots on the ground”. Many of our bank partners and asset managers are located outside of New Jersey, and require local representatives to make live contact with delinquent borrowers and provide a personal inspection of the residence, in a effort to ascertain its occupation status, the neighborhood profile, the “as is” condition, and the potential upside.

Loan Work Out: Lunar utilizes proven techniques to establish contact with delinquent and difficult to find borrowers, on behalf of banks. We present loan workout options for reinstatement, cooperative sale, or deed the property back to the bank by way of Deed-In-Lieu (DIL). Lunar also has the ability to review and clear title, as we prepare all necessary documents to effectively transfer title back to the bank or institution.

Property Preservation: Banks often face the additional burden of asset depreciation, due to lack of care and borrower abandonment. Lunar is licensed by the State of New Jersey as a Home Improvement Contractor, employing a full time construction crew, with the ability to provide property clean-outs, lawn care, snow removal, water removal, and full gut renovations. Having managed over 1,800 bank assets, Lunar is well-positioned to handle any refurbishment job, large or small.