RoundPoint Mortgage Servicing Corporation announced the adoption of a Fannie Mae tool designed to help servicers work faster when assisting borrowers with foreclosure prevent efforts.
Fannie Mae's Servicing Management Default Underwriter (SMDU) tool is a technology platform that provides real-time decisions on mortgage loan modifications and other solutions for struggling homeowners. The tool also enables workout decisions based on Fannie Mae and Servicing Alignment Initiative guidelines by integrating with existing loss mitigation systems.
The broad release of SMDU tool was first announced in early May and has been adopted by several other servicers.
Through the tool, RoundPoint can offer customers a more comprehensive set of workout options while ensuring compliance to GSE guidelines, the Charlotte, North Carolina-based servicer said in a release.
Additionally, SMDU can also shortens timeframes during the borrower evaluation process, which allows RoundPoint to communicate decisions to customers faster.
""The RoundPoint customer experience has greatly improved since adopting this platform,"" said Dave Worrall, president of RoundPoint. ""Our customers desire more options and expect immediate decisions, and the SMDU tool allows us to deliver both.""