Streamlining the Modification Process
Through Automation 
Room: Normandy A

Sponsored by:

Presenters:

 Ed Hill – Managing Director, LPS Desktop Loss Mitigation

Tom Carey – Servicing and Default Manager, LPS Strategic Consulting Services

Ken Corcoran – Fraud Solutions Sales Director, LPS Applied Analytics

Kevin Williams – EVP Analytics Business Development, LPS Applied Analytics

 

Session Description

The mortgage industry is facing its greatest challenge in more than 75 years. The turbulent economy and real estate markets have created a widespread need for loan modifications to help prevent foreclosures and stabilize the economy. As a result, servicers are experiencing unprecedented loan modification volumes. Servicers are challenged to ensure their modifications meet the HAMP requirements, and where HAMP does not apply, determine the next path for the most optimal workout solution. This panel will show servicers how to better manage this volume without additional infrastructure or manpower and address how to apply automation and analytics to existing infrastructure and processes to significantly improve loan workout success. The panel will also discuss best practices for obtaining income and employment verifications per the new guidelines, and address how to facilitate faster qualification, decisioning, approvals, document generation and document delivery to shorten loan modification timelines from weeks to hours.