Outsource Loan Modification Services
We provide expert assistance with your loan modification process to reduce losses and ensure business continuity
Expert Mortgage Assistance is a leading loan modification services company that can help you establish streamlined workflows to efficiently meet rising volume of modification demands. Our loan modification service is designed to meet all back-office support needs for loan modifications in order to deliver better mortgage experience to borrowers. Over the years, we have leveraged our experience and process to create more positive business outcomes for lenders and credit unions alike.
With the rise in mortgage delinquency due to spiraling rates of unemployment and negative equity, the count of distressed borrowers in need of a home loan modification program is increasing by leaps and bounds. The volume of work (required to successfully complete modifications), shortage of resources and lack of standardized business processes have left investors challenged. To meet these challenge, lenders need to embrace a systematic process which can be possible only when they outsource their loan modification functions to loan modification companies
We experience in handling the back-office needs of
over 5000+ loan modifications
Our Mortgage Loan Modification Services
Soliciting Borrower's Financial Information
We help you streamline the increasing number of loan modification requests with our services. We compile the financial profile of borrowers seeking loan modifications, by acquiring supporting documents like bills, pay stubs, unemployment benefits paperwork. We document all records of borrower hardships, facilitating the accurate relay of information across all channels involved in the mortgage modification process.
We walk the extra mile as an expert loan modification services company to verify the information received by the borrower. This helps to streamline the entire loan modification process, translating to faster turnaround times.
Check Borrower Loan Eligibility
Our mortgage experts scrutinize all the documents supplied by the borrower and compare this with the terms of the loan contract. This information will provide you with preliminary insights into the decision-making process that will ultimately decide if the loan of a particular customer is to be modified or not.
We go to the finer details of the loan like payment terms, payment amount, rate of interest and tenure of the loan to determine the level of hardship faced by the borrower seeking the loan modification.
Review of Documents
Any mismatch in the details of the documents provided by the borrower can slow down the loan modification process drastically, or worse yet, hint at being fraudulent in nature. We bear the responsibility of the end to end process of mortgage modification with a high-level focus on document review to ensure that there are no risks associated with a loan modification request.
Our team of mortgage experts meticulously ensure the integrity of the borrower’s documents with their review process.
Complete Modification Fulfillment
As an experienced mortgage modification company, we leverage our experience to oversee the completion of the process by providing assistance with title endorsements or subordinations, should the modification arrangement require it. We digitize the new mortgage arrangement of the borrower by entering the updated arrangement into the CRM systems.
We bring a fine mix of process knowledge, highly trained people and technology to provide you with a robust loan modification services solution.
Dispatch Modification Packages and Educate Borrower about Modified Plan
Once the loan modification process is complete, we compile a file containing the details of the new mortgage plan. Details like revised payment terms, amounts and dates are included in the package. We handle the entire back end of your communications with the borrower, keeping them duly informed of the changes instituted by the loan modification process. We augment this responsibility by educating the borrower of the new terms of the modified plan.
Our Mortgage Loan Modification Process
- Gathering of Borrower Information:- We collect all information documenting the hardships faced by the borrower. This information is duly verified and filed under the borrower’s profile.
- Determining Eligibility:- A due diligence with the borrower is completed to verify furnished documents. Based on verification, the eligibility of the borrower to avail loan modification is determined.
- Submission of Loan Modification Terms:- All of the terms that a borrower is eligible to avail the loan modification under are isolated and documented. The necessary documents are forwarded to the underwriter.
- Liaise with underwriters on Loan Terms:- We coordinate with the underwriters to assist them in the loan modification decision.
- Complete regulatory compliance with government loan modification rules and regulations
- Present offer to Borrower:- The modified term sheet containing the new terms of payment and loan tenure is forwarded to the borrower. They are given a detailed understanding of the terms of the modified loan.
How we Drive Excellence with the Quality of our Loan Modification Process
We have successfully developed process based protocols to help you reap benefits in your mortgage loan modification process. Our tried and tested standardized procedures that enable you to work with high volumes of loan modification requests includes:
- Setting up a dedicated team of mortgage experts who specialize in loan modification
- Instating due diligence and verification processes that help you make insightful decisions while approving loan modification for a borrower
- Leveraging the use of technology for faster processing and approval times
- Establishing effective communication channels to interact with borrowers
Why Outsource Mortgage Loan Modification Services to Us?
- 1000+ highly experienced mortgage professionals working fulltime
- Experience in handling back-office needs of over 5000+ loan modifications
- We evaluate individual cases, customize suitable loan modification solutions (Forbearance, Short sale, Deed in lieu of foreclosure etc.)
- Standardized and automated back office support for loan modification back-office support
- Up to 30% reduction in TAT, leveraging 24/7 work environment
- Up to 40% reduction in per employee operational cost
- Seamless communication and highly transparent operations
- 100% data confidentiality and privacy
- Flexible staffing model
Looking for a premier loan modification company to transform your mortgage modification process? Outsource mortgage modification to Expert Mortgage assistance for unparalleled excellence in loan modification services.