Outsource Default Management Services
Our back office support services for renovation mortgage loans enable lenders to ensure faster loan approval times
Expert Mortgage Assistance has over 10 years of experience in providing mortgage lenders with complete back office support for default management. As a specialized global default management services company, we provide support for a range of default management tasks - from collections to counselling and management of assets to claims management. Leveraging our services, our clients have, over the years, been able to streamline their decision-making process for effective business outcomes.
We are proficient in all aspects of the mortgage process and so can manage tasks with strict adherence to timelines and regulatory requirements. With our systematic approach to defaults management, we ensure maximum recovery with minimum efforts, which is why our clients prefer to outsource default management services to us.
Our All-Inclusive Default Management Services
Collections and Repayment Services
We provide you with end-to-end back office support to ensure timely borrower repayments. We keep track of discrepancies in customer payments and in case of a default dispatch a ‘letter of demand’ on behalf of you. We classify default borrowers based on their income bracket and engage with them as per a predetermined engagement level based on the segment they fall into. Our services reduce the amount of in-house effort that you would need to put into the handling of the several legally mandated processes of collections and repayment.
Loan Modification and Short Sales
We acquire vital supporting documents like unemployment benefits paperwork, bills and payment default records to determine the financial condition of the borrower and gauge their eligibility for a loan modification. Our loan modification services give you detailed insights to decide if the mortgage loan of a borrower is to be modified or if short sale procedures need to be initiated for closing. We create and maintain reports of the property condition, existing market value and market trends to ensure that you get the outstanding mortgage amount through the short sale of the property in the fastest turnaround times possible.
Disposition and Asset Management Services
Our team of Mortgage Experts provide assistance for managing defaulted assets for almost all mortgage loan types including FHA loans, VA loans and USDA mortgage loans. We facilitate the monetization of non-performing assets in a way that is mutually beneficial for lenders. In the event of a foreclosure, we focus on providing timely resolutions by facilitating reconciliations with the borrower and ensuring extensive due diligence in audits and reports preparation and maintenance. We ensure proper documentation to help you secure the property in case of continued defaults in payment from the borrower.
We prepare claims on all lender acquired properties and ready them to be sent to your defaults management team for processing. Our back-office support with claims processing helps you maintain clear records and reports that can be tracked and audited in a timely manner. We provide flawless calculations and curtailment amounts based on the loan default timelines. Our services as a premier default management service company are designed to assist you with the determination of the ideal recovery options and mitigate losses by enabling you take well-informed decisions during claims processing.
End-to-End Home Retention and Liquidation
As an experienced default management services company, we have worked with multiple lenders to provide premium solutions that enable the customer to continue to make mortgage payments. Most importantly, we work towards the recovery of the loan amount by determining the best option for recovery, considering the financial condition of the borrower. From property liquidation to HAMP modifications, we provide you with the back-office expertise needed to successfully recover the loan amount. We manage the generation of a deed in lieu and short sale of the property in case the customer is unable to make payments even after HAMP modifications are introduced to the loan.
Why Outsource Default Management Services to Expert Mortgage Assistance?
We are made up of a team of highly trained team of mortgage experts with diverse experience in default management services. Our services are made up of an ideal mix of technology and best industry practices that help you bring down the risks involved in the mortgage process. We take charge of document management and report preparation with a high-level focus on quality. We bank on modern-day CRM systems to maintain accurate records of customer payment history, property information and supporting documents.
The following are some more of the benefits of choosing our default management services:
- A team of 1000+ mortgage professionals with expertise in default management
- Robust back end support with all mortgage loan types including FHA loans, VA and USDA loans
- Error free loss analysis and due diligence with the loss recovery process
- Extensive documentation for maintaining complete default records
- Multi-tier document review process to maintain accuracy
- Extensive operational and productivity reporting
- Up to 40% reduction in operational costs
- Up to 30% savings in TAT
- Flexibility to leverage required amounts of resources as and when required
Looking for a mortgage default management services company to take charge of your entire business process? Outsource Default management services to Expert Mortgage Assistance to maximize returns and focus more on your core activities.