SOURCE: Statebridge Company

Statebridge Company

January 26, 2010 10:00 ET

Statebridge Teams With American Legal & Financial Network to Form Select Network of Mortgage Banking Attorneys

DENVER, CO--(Marketwire - January 26, 2010) - Statebridge Company (www.statebridgecompany.com), a Denver-based provider of custom, high-touch special loan servicing for the mortgage industry, has partnered with American Legal & Financial Network to form a 50-state network of mortgage banking attorneys to assist with its loan servicing efforts.

Statebridge was founded on the principle that a combination of technology, deep industry experience, custom borrower touch, and a contrarian view of servicing makes a positive difference in the performance of mortgage portfolios.

"We built this operation from the ground up with one thought in mind: What is best for the investor and fairest to the borrower?" said David McDonnell, Managing Director of Statebridge. "While there are many legal providers in our industry today, membership within Statebridge's Select Attorney Network verifies the attorney is 100% committed to that business philosophy and our high-touch approach."

Statebridge servicing specialists are assigned to a particular loan throughout its lifecycle, resulting in improved loan performance and highly satisfied clients. The firm's clients can call Statebridge, speak to their assigned servicing specialists, and have an informed conversation about what is happening with their loans. Borrowers can do the same.

"Our servicing model is different," McDonnell says, "we are not afraid to roll up our sleeves, dig into a loan file and gain a firm understanding of the borrower's situation to develop a successful servicing strategy that meets our client's requirements. We look for the same type of commitment we make to our borrowers and clients from the attorneys we select for our network."

"Teaming up with Statebridge and its unique approach to loan servicing affords our member attorneys the opportunity to excel in all that they do," said William LeRoy, President and CEO of American Legal & Financial Network. "By working in concert with the Statebridge team we can help to raise the mortgage loan servicing industry's bar in risk avoidance, quality legal services, and overall excellence."

About Statebridge

Statebridge is a provider of custom, high-touch special servicing for the mortgage industry. Statebridge was formed by a team that helped create the market for independent surveillance of mortgage backed securities -- an undertaking that requires an investor's perspective, a new outlook on servicing, and a macro view of the markets. The firm's vision is to translate management's years of experience in overseeing hundreds of servicers and roughly three trillion dollars worth of mortgages into a special servicer that will treat borrowers with respect and its clients' assets as if they were its own. For more information about Statebridge please visit www.statebridgecompany.com, or call 303.962.6753.

About American Legal & Financial Network

The American Legal & Financial Network, a national network of legal and residential mortgage banking professionals, leads the industry as a provider of legal services, strategic leadership, and timely education. The largest national organization of its kind, the AFN offers members of the residential mortgage banking community the "best of breed" in legal providers as well as high quality educational and training resources. AFN's membership rosters include professionals from the various segments of the residential mortgage banking community, including Legal, Residential Mortgage Bankers and Investors, Risk Evaluation, Investment Research, Consulting, Land and Title, Technology, and Asset Protection. For further information about the AFN, please visit www.e-afn.org, or contact Matt Bartel, COO, at 314.878.2360.

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