Outsource Mortgage Loss Mitigation Services

Expert Mortgage Assistance is a leading mortgage bpo company specializing in a range of back-office support services including loss mitigation services. Our loss mitigation services are designed to help loan servicers handle their back-end and front-end operations with seamless efficiency. From strict underwriting rules to analysing borrowers, we provide our clients with a robust system that helps mitigate losses and retain customers.

Our mortgage loss mitigation services encompass the entire process from documentation to borrower outreach. Our core duty is to provide our clients with steadfast solutions that are geared towards reducing mortgage losses. Our team of experts have years of experience in loss mitigation and have learnt exceptional skills over the years that make them indispensable to our loss mitigation process.

How We are Assisting Lenders Cope with Loss Mitigation Needs Triggered by the Pandemic

With constant change in loss mitigation guidelines, lenders have to keep themselves prepared for the influx of loss mitigation requests that is likely to grow in the upcoming months. It is in this regard that we are assisting lenders to:

• Adhere to state and federal consumer protection requirements (for unique circumstances impacting borrowers), including fair lending laws, when working with borrowers
• Exercise careful diligence in ensuring compliance with the non-uniform federal and state requirements with respect to loan forbearances
• Support lenders with adequate staffing needs to plan and prepare for post-forbearance options and be responsive to needs.

Our Comprehensive Mortgage Loss Mitigation Services

At Expert Mortgage Assistance, we give our clients the freedom to choose from our bouquet of loss mitigation services so that they can optimize their process and mitigate risks.

Here are some of the services that we offer:

Foreclosure Management Assistance

We provide the best support for foreclosure management services that ensure quick returns and valuable asset management. As part of our loss mitigation assistance, foreclosure management offers our clients the ability to reduce their operational costs and also free up their in-house resources to work on core business activities.

• Provide foreclosure management services to assist with asset management
• Provide foreclosure management to help clients reduce operational costs
• Leverage foreclosure management services to free up client’s in-house resources

Custom Loan Modification

These services are offered to borrowers who are struggling with financial difficulties and so default on their mortgage payments. We reach out to the borrower on your behalf to understand their situation and offer solutions that can reduce their monthly payments and interest rates. This helps borrowers get back on track with their installments and helps our clients mitigate their losses.

• Provide loan modification services to borrowers who have defaulted on their mortgage payments
• Reach out to borrowers to offer them solutions to reduce their interest or monthly payments
• Help clients mitigate losses as borrowers return to making full payments once more

Short Sale Management

Neither borrowers nor lenders want to go through the painstaking and expensive foreclosure process. Therefore, short sales are the most preferred alternative for all stakeholders. Expert Mortgage Assistance offers high-quality short sale services to ensure that borrowers and lenders can breeze through it without any hassles. This way, we help in the seamless completion of property sales.

• Avoid foreclosure proceedings through short sale management
• Initiate short sales to help borrowers and lenders recover some of the loan amount
• Transfer property to the new owners seamlessly with minimal resources and effort

Borrower Solicitation

We understand that the reaching out to the defaulting borrower is a difficult task. This is the reason Expert Mortgage Assistance follows an empathetic borrower outreach process that helps lenders resolve the payment delay issue without losing their valuable customers. We also follow Freddie Mac directive of determining the accurate cause of delay in payments.

• Follow-up with borrowers on client’s behalf to help lenders resolve payment delays
• Determine the exact cause of the delay in payments through the Freddie Mac directive

Deed in Lieu

We support lenders with all back-office requirements needed to negotiate a deed in lieu of foreclosure. We communicate with the homeowner on the exact procedure and convey all necessary information in the process. We also handle all the back-end documentation requirements to expedite the process on behalf of the lender. Following that, we help in indexing and archiving all the documents.

• Provide back-office services to help with deed in lieu of foreclosure negotiations
• Reach out to homeowners to update them on the processes and procedures involved
• Communicate all necessary information to homeowners ahead of time
• Expedite the process for lenders through the efficient generation of back-end documentation
• Assist in archiving and indexing all required documents

Payoff Management

A payoff statement needs to be clear and detailed. We help lenders meticulously prepare payoff statements. With our back-office support services, lenders can prepare statements to remove all ambiguities concerning loan repayments. We have experience in preparing statements with additional details such as the amount of interest that will be rebated due to prepayment.

• Assist lenders prepare clear, detailed, and concise payoff statements
• Eliminate all ambiguity concerning loan repayments through our back-office services
• Incorporate any additional details into statements (amount of interest rebated due to prepayment, etc.)

Forebearance

When a lender agrees to a borrower’s request to temporarily suspend or reduce their monthly mortgage payments for a specific period of time, we help the lender collect all the documentation needed to complete the process smoothly. Additionally, we help lenders understand the legal implications and identify and report the risks involved in the process.

• Collect the required documentation for temporary suspension or reduction in monthly mortgage payments
• Assist lenders identify and report risks involved in the process
• Assist lenders in understanding the legal implications involved

Our Mortgage Loss Mitigation Support Services Is Streamlined to Meet Lender Needs

Expert Mortgage Assistance has been offering the highest standards of loss mitigation outsourcing services to lenders based on a robust framework. We have developed this framework through our extensive experience in assisting lenders with their back-office loss mitigation needs.

Some key components of the framework include:

• Apply sound statistical and analytics-based sampling approach to determine risks
• Establish robust metrics to determine when to modify loans or make an exit
• Deploy a quality assurance team to compile loss mitigation alternatives across loans
• Set up a team of SMEs to assess compliance and interpret regulatory guidelines

We are among the leading loss mitigation services companies who have at their disposal an expert group of mortgage specialists that compile loss mitigation alternatives across loans. Their extensive knowledge and experience have helped us tailor many strategies to avert losses over the years. Besides that, they can also help you conduct Root Cause Analysis (RCA) for compliance outcomes.

We have developed MSuite, an automated document management software, to make it easy to manage and maintain all mortgage documents, including ones related to loss mitigation services.

Our solution makes it possible for lenders to retrieve any document in seconds, if requested by governing bodies.

We are looked upon as one of the loss mitigation services companies who are looked upon as better alternatives to steer clear of impending losses.

Why Outsource Loss Mitigation Services to ExpertMortgageAssistance?

Expert Mortgage Assistance has been offering a full range of loss mitigation services for years. We have now gained experience and unparalleled skill in delivering high-quality services in the least amount of time.

When you outsource mortgage loss mitigation to us, we provide certain benefits that include:

• 1000+ highly trained mortgage professionals working full-time
• Back- office support to manage loan modification agreements, forbearance plans, reinstatement letters, etc
• Group of experts to handle regulatory requirements
• Up to 30% reduction in TAT
• Up to 40% reduction in per employee operational cost
• Flexibility to scale work up by 80% during peak times
• 100% data confidentiality and privacy
• Standardized and automated back-office support to mitigate losses