Big data may seem like buzzword du jour, but with the proper application, there is big potential in big data to transform the default servicing industry.
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New App Looks to Hasten Short Sale Process
ShortSave, Inc., announced Tuesday a new application aimed at shortening the time for a one-lien short sale or loan modification transaction. The average short sale takes 165 days, a time period ShortSave anticipates being able to cut to a paltry 36 days. The application is projected to save a non-performing note investor $1,200-1,800 in lost interest on an average loan.
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