Outsource Mortgage Default Management Services

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

We follow a highly streamlined process to addresses all the complexities involved in mortgage default services. We simplify the process to deal with highly risky and complex scenarios like late payments, delinquencies, among others. Here’s a look at our end-to-end default management services:

Collections and Repayment Services

We provide 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 your behalf. We classify default borrowers based on their income bracket and engage with them as per the predetermined segment they fall into. Our services reduce the amount of in-house effort that you need to put into handling the several legally mandated processes of collections and repayment.

• Ensure timely repayment
• Track discrepancies in payments and dispatch “letter of demand” if needed
• Classify borrowers into segments
• Reduce the amount of manpower required to handle the entire process

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.

• Collect supporting documents (bills, payment default records, etc.)
• Gauge borrower’s eligibility for loan modification
• Determine whether the loan needs to be restructured or to initiate short sale procedures
• Generate reports containing existing market value, property conditions, and market trends
• Ensure you receive the outstanding loan amount within the shortest turnaround time

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 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 is obtained to help you secure the property in case of continued defaults in payments from the borrower.

• Assist in managing defaulted assets for the majority of loan types (VA, FHA, etc.)
• Assist in the monetization of non-performing assets process
• Facilitate reconciliations with the borrower
• Ensure due diligence in the preparation of reports and audits
• Help secure the property with appropriate documentation in case of consistent defaults

Claims Processing

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 for 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 ideal recovery options and mitigate losses by enabling you to take well-informed decisions during claims processing.

• Prepare claims for all properties acquired by lenders
• Prepare claims to be sent for processing to the defaults management team
• Help maintain records and reports that can be tracked and audited efficiently
• Ensure accuracy in calculated curtailment amounts
• Assist in determining the most preferable recovery options to reduce losses

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 required to successfully recover the loan amount. We manage the generation of a deed in lieu of foreclosure and short sale of the property in case the customer is unable to make payments even after HAMP modifications are introduced to the loan.

• Determine the most preferable option for recovery of the loan amount
• Provide back-office support to assist in the loan recovery process (through property liquidation, HAMP modifications, etc.)
• Manage the short sale of a property to help lenders recover a portion of the loan amount
• Manage the generation of a deed-in-lieu of foreclosure in case of continuous non-payments

Why Outsource Default Management Services to Expert Mortgage Assistance?

We are made up of a team of highly trained 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 reduce 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 histories, property information, and supporting documents.

The following are some of the benefits of choosing our default management services:

• A team of 1000+ mortgage professionals with expertise in default management
• Robust back-end support for all mortgage loan types including FHA, VA, and USDA loans
• Error-free loss analysis and due diligence in the loss recovery process
• Extensive documentation to maintain 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