SOURCE: Loan Value Group

Loan Value Group

December 21, 2009 08:00 ET

Richard Santulli and Michael Goodman Join Loan Value Group

RUMSON, NJ--(Marketwire - December 21, 2009) - Loan Value Group LLC today announced that Richard Santulli, former Chairman and Chief Executive Officer of NetJets, Inc., has joined its board as Chairman. At the same time, the company said that Michael Goodman, former CEO of J.G. Wentworth, has joined the board through Corridor Quadrant's ownership position in Loan Value Group and will also take an active role as Managing Partner.

Loan Value Group CEO Howard Hubler, former Head of Morgan Stanley's Global Proprietary Credit Group, said, "Richard Santulli and Michael Goodman bring enormous credibility in creating and implementing innovative business and consumer solutions. They join a senior management team with more than 20 years of high level, hands-on experience in the mortgage, credit and asset-backed markets."

With an estimated 29% of all U.S. mortgages, or 15 million homes, currently in a position of negative equity, the issue of strategic mortgage default is fast becoming one of the biggest problems facing mortgage security investors, loan owners and servicers as well as the current administration. Loan Value Group works with owners of mortgage risk and servicers to positively influence consumer behavior to help reduce the risk of strategic default in their mortgage portfolios. Using patent-pending technology, Loan Value Group provides a variable cost, highly scalable, turn-key platform designed to identify, assess, and combat strategic default.

"Because strategic default is a discretionary, rational decision made by the homeowner," Hubler said, "an effective solution must provide incentives for the homeowner to choose not to default, rather than subsidies to enable them to make payments. In doing so, our program aligns the interests of the borrower with the mortgage owner. At the same time, it meets the needs of other important stakeholders in the current mortgage crisis, including regulators and the government as well as local communities, by lowering default risk and helping to stabilize the very neighborhoods in which we live."

About Loan Value Group LLC

Loan Value Group LLC, based in Rumson, NJ, works with mortgage owners and servicers to positively influence consumer behavior to help reduce the risk of strategic default by rewarding the responsible homeowner. Their solutions align the interests of all stakeholders, including homeowners, risk-owners, servicers and the government through incentive-based programs and turn-key solutions that stabilize and preserve neighborhoods while lowering foreclosures.

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