As volumes of at-risk loans increase, completing timely loan modifications without automated solutions is difficult. LPS offers an innovative end-to-end solution for streamlining the loan modification process – RediMod.
LPS’ RediMod program includes the following:
- Data and analytics to establish a default score and optimal loan modification recommendation.
- Highly configurable rules engine to identify borrowers who are delinquent or at risk of defaulting and determine the best possible workout option based on factors such as loan type, net present value or investor requirements
- Personnel to contact and communicate with your borrowers
- Fulfillment services to complete the modification
RediMod is intended to provide a complete loan modification solution to servicers; however, it has been developed in a modular fashion – allowing those with partial workout processes in place to acquire additional capabilities as needed.
Values and Benefits
- Reduce borrower wait times for identification and processing of modifications, therefore reducing delinquency, avoiding foreclosure and reducing credit losses.
- Save your organization from increasing your FTE further, and avoid training and turnover.
Contact LPS today at 800.991.1274 to find out how RediMod can improve the effectiveness of your loan modification process.