Default process management software provider ""DRI Management Systems, Inc."":http://www.DRIDefault.com, has announced its new Web-based, loan servicing application for the mortgage industry, Rincon.[IMAGE]
According to the Newport Beach, California-based company, the Rincon platform helps overburdened servicers keep pace with demands for borrower assistance. Rincon is expected to double or triple the workload each servicing specialist can handle.
""The goal is to empower and enable one person to do the work of two or even three using automation designed to work seamlessly with existing servicing systems,"" said DRI Management Systems CEO, Duke Olrich.[COLUMN_BREAK]
The .Net browser-based platform, which includes modules for loss mitigation, bankruptcy, foreclosure, and REO, is designed for accelerated deployment and easy implementation, according to DRI.
The Web-based design embeds letters, forms, and other essential workflow items into the automated environments of each module with pre-authorized lender and investor parameters and workout modeling.
All third-party services, such as inspections, broker price opinions (BPOs), appraisals, and title reports, are available with a DRI-sponsored vendor network and can be ordered as needed or automatically.
""This mortgage crisis makes all previous [platforms] pale by comparison,"" Olrich said. ""Without well-designed and well-executed technology assistance, lenders and servicers are at a great disadvantage in dealing with this volume of defaults.""
Steven Horne, CEO of ""Wingspan Portfolio Advisors"":http://www.wingspanportfolioadvisors.com, a Dallas-based specialty servicer, agrees. ""We are deploying Rincon's stratospheric new capabilities and are already seeing the tremendous impact it can make in managing defaulting loans more effectively,"" he said. ""Not only does the technology aid us in handling cases more swiftly and efficiently, it ultimately is helping us keep more families in their homes.""