DSNews The homepage of the servicing industry
""DecisionReady"":http://www.DecisionReadySolutions.com, a provider of default servicing compliance solutions based in California, announced this week that it has reviewed 1 million delinquent residential mortgage loans for loss mitigation and foreclosure process and policy compliance for leading servicers.
[IMAGE]DecisionReady technology offers compliance for early stage delinquency through loss mitigation, foreclosure, and the post-sale process. According to a statement from the company, its software provides for global deployment of new policies and procedures and simplifies training.
Decisions made by associates on each loan are documented for quality control reviews, investor forensic audits, and portfolio analytics. The platform conforms to each servicer's policies and interpretation of investor guidelines.
[COLUMN_BREAK]""Exhausting all available home retention options prior to proceeding with foreclosure is a complex and key decision point for all servicers,"" said Ravi Ramanathan, CEO of DecisionReady.
Ramanathan continued, ""The investor guidelines around topics such as sufficient customer outreach leave much room for interpretation. When has the servicer done enough to meet the guidelines? It's such challenges and complexities that was the impetus to form the company in 2010.""
The DecisionReady compliance suite is available through Web-based software and includes modules for collections, loss mitigation, and foreclosure compliance for multiple investors including ""Fannie Mae"":http://www.fanniemae.com, ""Freddie Mac"":http://www.freddiemac.com, and ""HUD"":http://www.hud.gov. Each module helps servicers comply with the numerous regulations in default servicing.
""Our technology makes sure that every time a servicer has to consider a homeowner for a loan modification or a short sale, they are following the exact same sequence of procedural steps, conforming to the timelines and in the right fashion as dictated by investors and regulators,"" said Dan Mahler, chief strategy officer of default servicing solutions at DecisionReady.
Mahler noted that DecisionReady's senior management team has decades of experience in mortgage banking, mortgage technology, and default servicing.
