Use smart technology to streamline the default management process for borrowers, and manage all aspects of loss mitigation and compliance via multiple channels
Consumer loan servicers face high servicing costs, rapid business change and inflexible legacy technology, all while trying to focus on providing an exceptional borrower experience. Disparate, disconnected systems lead to many inefficiencies without a single source of truth.
Not to mention the eternal cloud/on-premise question, relentless consumer protection regulation, and massive cost pressure due to shrinking margins.
EarlyResolution automates the entire loan-default process from initial contact, to underwriting and settlement. It also enables core collection scripting, customer service, short sale, loss mitigation and foreclosure activities. The Software-as-a-Service (SaaS) package helps servicers keep portfolios compliant on many fronts, including regulatory, credit risk and investors.
The underwriting feature includes investor rules in line with management and regulatory guidance on retention and liquidation workouts. Importantly, EarlyResolution brings one version of the truth to all your default management channels. This ensures a consistent service for borrowers and a single point of contact, whether via call centers, self-service access (cell and tablet), chatbot interaction or via real estate agents.
Access the most advanced, flexible and scalable default management system for the treatment and resolution of mortgage, second lien, credit card and auto loans. Dashboards and customized reporting enable rapid and informed decision-making.
Extend the Collections and Loss Mitigation app directly to the borrower’s web browser, allowing for greater homeowner participation and a self-service facility (e.g., tracking the status of inquiries and uploading documents).
Manage the entire short-sale process with the real estate agent, reducing cycle time. Servicers deal with critical documentation, property listings, offers and other communications in real time.
Apply EarlyResolution across consumer lending products (mortgage, home equity, etc.) and multiple contact channels. Benefit from a single view of the customer and a common Collections and Loss Mitigation platform.
Proven record: 15-year track record as an enterprise-class decisioning engine. EarlyResolution is proven to reduce default operations costs and credit losses.
Highly scalable and secure: The architecture helps servicers keep pace with regulatory and compliance changes without making changes to software code. Financial institutions can quickly add or modify the system in days or weeks, not months.
Aligned with industry: We built EarlyResolution in response to industry demands and continue updating to meet business needs in close collaboration with the industry.
Knowledge and expertise: Our lending solutions have the in-depth scalability, security and flexibility demanded by the industry. We also strengthen access to the fintech ecosystem with rapid integration of applications from vetted third-party providers.
Mortgage servicers today are adopting technologies that will transform their operations by leveraging more automation, customer personalization and efficiency.
To learn more read the article — Digital default management.