CCCS of Delaware Valley Signs On to Use DMM’s Loss Mit. Web Portal

""Default Mitigation Management LLC"":http://www.defaultmitigation.com/ (DMM), a Newport, Kentucky-based provider of loss mitigation services,[IMAGE]

recently announced the newest user of its loss mitigation Web Portal â€" ""Consumer Credit Counseling Service of Delaware Valley"":http://www.cccsdv.org/ (CCCSDV), a housing counseling and mediation provider for borrowers in the Philadelphia and greater Delaware Valley area.

Through systems integration, the loss mitigation Web portal will allow CCCSDV to automatically take the information received from borrowers and upload it into the portal for direct electronic submission to the loan servicer, DMM explained. The company said the portal eliminates lost documents and provides a secure messaging system that allows direct communication between the submitter and the loan servicer, including automatic e-mail notification of status changes and

[COLUMN_BREAK]

messages. In addition, the portal provides a full array of both production and customized reports on results, DMM said.

Joseph C. Smith II, president and CEO of DMM, said he believes CCCSDV will benefit from the systems integration for its internal processes and will see a significant reduction in response time on their loss mitigation submissions. In addition, he said the counseling agency will be integral in developing new uses and directions for the portal.

""One of our top priorities is making the logistics of the housing counseling process as easy as possible for the client,"" said Anthony Orman, VP of client programs for CCCSDV. ""Having efficient tools and technology like the DMM portal allows us to focus more on the client.""

DMM's loss mitigation Web portal was produced in conjunction with the National Association of Chapter 13 Trustees' ""Industry Initiatives Group,"" including loan servicers, debtor counsels, and bankruptcy trustees, and it was introduced nationally in January 2009. The company said the Web portal, which is the first of its kind, has gone through several new releases and now represents more than 75 percent of the mortgage market through the 18 major loan servicers who utilize it.

According to DMM, the portal has been endorsed by the National Association of Consumer Bankruptcy Attorneys as the best way to submit loans for loss mitigation directly to the loan servicer.