Pegasystems Announces New Solution in Loan Foreclosure Processing

""Pegasystems Inc"":http://www.pega.com, a Massachusetts provider of customer relationship management solutions, has launched a new ""pre-foreclosure solution"" that allows mortgage servicers to implement regulatory quality controls before foreclosure.

The timing of the product roll-out couldn't be more apt, considering the uncertainty now surrounding foreclosure[IMAGE] [COLUMN_BREAK]

documentation and servicing procedures due to the recent robo-signing fiasco.

Built on the company's loan loss mitigation solution, the pre-foreclosure solution features case management capabilities and rules-based processing that automatically delivers defect-free foreclosure recommendations and adapts to accommodate future regulatory changes, according to a statement from Pegasystems.

""Many existing practices around foreclosure are being called into question now more than ever,"" said Tony Young, principal of financial services industry solutions at Pegasystems. ""Pega's new pre-foreclosure solution vastly improves the visibility, certainty, and efficiency of the overall process and provides unmatched quality controls and integrity. Servicers can have increased peace of mind knowing that their documentation is error-free.""

The new solution includes support for all servicing platforms and applications across collections, loss mitigation, customer service, and foreclosure, as well as cloud-based delivery to the servicer, in addition to other features.