SOURCE: The National Groups

The National Groups

February 22, 2010 19:25 ET

The National Groups Expands Executive Team to Keep Pace With Rapid Growth

Fast Growing Mortgage Servicer Successfully Recruits Executives to Fill New Positions

GLASTONBURY, CT--(Marketwire - February 22, 2010) -  The National Groups, the parent company of the National Default Servicing, LLC suite of mortgage service operations, announced today that Mitchell Oringer and Richard T. Fikani have joined the firm, filling two new leadership positions.

In response to the increased volume of distressed borrowers and the growing number of foreclosed and REO properties nationwide, The National Groups has been expanding its efforts to help reduce the exposure of both "At Risk" borrowers and "Value Challenged" collateral.

Mr. Oringer will assume the role of Senior Managing Director - REO/Loss Mitigation Operations, for The National Groups. He was most recently with Titleserv National Default in Austin, TX where he was Senior Vice President, Loss Mitigation Services. Mr. Oringer brings more than 20 years of experience in the REO and loss mitigation industry to The National Groups, including senior positions with Indymac Federal Bank, GMAC Rescap, LLC, GMAC Mortgage Corporation, and Clayton National, Inc.

Mr. Fikani steps in to the new position of Managing Director - Default Services for The National Groups. He comes to the firm from Titleserv National in Austin, TX where he was Vice President - Director of Operations. Previously, Mr. Fikani was Executive Vice President - Mortgage for Wachovia Corporation in Charlotte, NC. He held various management positions with the firm in origination and underwriting beginning in 1989.

"Mitch and Richard bring a deep knowledge of REO and loss mitigation to the firm, and we're thrilled to have them join us," said Bruce Wentworth, Senior Managing Director of The National Groups. "They're the right people at the right time for the firm, and their abilities will go a long way toward accelerating and managing the organic growth of The National Groups."

The National Groups provides a full suite of customizable default services through an aggressive utilization of flexible technology, including ISIS, the firm's proprietary web-enabled default solution and data warehouse. In addition, The National Groups utilizes third-party default management software solutions like REOTrans, a leading provider of asset, vendor, and REO management software, and DRI, a leader in default management solutions, by client request. Both strategic partners provide The National Groups an integrated process flow around Loan Modifications, Short Sales, Deed in Lieu of Foreclosure, and REO processes.

With corporate headquarters in a new state-of-the-art office complex in Glastonbury, Connecticut and a west coast operations center in San Diego, California, The National Groups is set to serve every time zone of the country.

About The National Groups
The National Groups, LLC is a single source provider of default and servicing related solutions to the real estate industry, providing a seamless and cost-effective integration of valuation, loss mitigation, and default management services. The National Groups collection of companies leverages the strengths of National Default Services, LLC, an outsourcer of asset management, marketing, and disposition of REO properties held by government agencies, institutions, and private investors, National Collections & Loss Mitigation Services, LLC, a full-service default management firm with specializations in short sale and modification services, National Valuation Services, LLC, a nationwide provider of all types of valuation products and valuation quality control services, and National Closing, Escrow, and Title Services Inc., a licensed and regulated closing and escrow services firm.

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