August 11, 2017
Greenville, SC (August 11, 2017) — The U.S. Department of Health and Human Services says that well over 110,000 children the U.S. foster-care system are currently waiting to be adopted. But adoption costs—which can range up to $50,000—are often too high for many families to readily afford.
Shellpoint Mortgage Servicing (SMS) wants to help change that.
“Our associates are building their families in a variety of ways,” observed Michael Keaton, SMS Executive Vice President. “We understand the financial challenges that many families face when they chose to adopt, and we want to help. So we established our Adoption Assistance program to reimburse our associates for at least a portion of their adoption expenses.”
Keaton said that all full-time SMS associates are eligible for adoption-assistance benefits after one year of service. The child to be adopted must be under the age of 18 when the adoption process begins; and the child can even be a relative—but not a stepchild.
“We will reimburse eligible adoption-related expenses up to $6,000 per adopted child per year,” noted Keaton, “and our program is open to both domestic and foreign adoptions. We’ll also provide an additional reimbursement of up to $500 to associates who adopt a special-needs child.”
He said that virtually all adoption-related expenses are reimbursable, including:
“Complete details of our new program,” explained Keaton, “are spelled out in our Adoption Assistance Policy, including how to apply, how to get reimbursed, and a good many other important guidelines and considerations. The policy is available for all associates to access on-demand, via our intranet.”
Shellpoint is one of the largest non-bank servicers with over 1.7 million residential mortgage loans. Shellpoint has offices throughout the United States, including Greenville, South Carolina; Houston, Texas; Tempe, Arizona; and Jacksonville, Florida. Shellpoint’s clients include leading banks, loan originators, and real estate investment trusts (REITs). Shellpoint’s ongoing success is grounded in its ability to deliver superior asset performance and to develop creative and practical solutions for homeowners in need. Shellpoint is proud to be part of NewRez LLC (“NewRez”). NewRez is owned by New Residential Investment Corp. (NYSE: NRZ), a publicly traded REIT that invests in and actively manages residential real estate investments.
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