DecisionReady Launches Pre-Foreclosure Review Module

California-based ""DecisionReady"":http://www.DecisionReadySolutions.com, a provider of default servicing compliance solutions, released a pre-foreclosure review module for the DecisionReady Compliance Suite on its cloud-based technology platform this week.

[IMAGE] Operating like a compliance quality control checklist, the pre-foreclosure review module enables servicers to ensure they meet the requirements for reviewing a delinquent mortgage loan.

The module manages the remediation process to resolve exceptions and ensure compliance prior to initiating foreclosure, such as exhausting all options to help people stay in their homes before moving forward with a foreclosure.

""Servicers now can show that they have made the right decision in accordance with their policies and procedures,""

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said Felix Veski, SVP of marketing at DecisionReady. ""Furthermore, DecisionReady's cloud technology enables incredibly fast and rapid solution deployment with minimal upfront capital investment to quickly respond to regulatory changes.""

The pre-foreclosure review module is included in the DecisionReady Compliance Suite for default servicers, which is available to servicers through a Web-based portal that adds process compliance and audit capabilities to the major servicing systems. It offers compliance from early stage delinquency through loss mitigation, foreclosure, and the post-sale process.

In addition to its new module, DecisionReady offers modules for collection, short sale review, foreclosure sale date postponement, foreclosure compliance for multiple investors including Fannie Mae, Freddie Mac, and HUD, and execution of the affidavit of indebtedness documents to address robo-signing challenges.

""The DecisionReady platform allows for the easy customization of rules to conform to each servicer's individual policies and their interpretation of investor guidelines,"" said Claudia Sanchez, COO of DecisionReady.

Sanchez added, ""Our pre-foreclosure review module provides servicers with qualitative process compliance by turning each step in the loss mitigation process into auditable decisions that each servicing associate needs to make, and then it documents all of that to ensure consistency, fairness, and accuracy.""