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| Mitigate default rates & foreclosures | Loan servicers face increasingly complex value and risk decisions on adjustable-rate mortgage (ARM) resets, refinances, escrow analysis, loan modifications, loss mitigation, repurchases and payment processing. Decisions must balance economic value, pricing, eligibility, compliance and legal risk.
Automated decisioning is a must-have for effective default management and borrower home retention. Overture applies its best-in-class automated decisioning solutions for loan origination and underwriting to re-price and service mortgages in a method called “re-decisioning.”
Benefits for Servicers:
- Accuracy: Real-time integration with key external (e.g., full credit, MLS) and internal (e.g., MSR, NPV calculation) servicing data enables better understanding of default risks for more suitable workout solutions.
- Transparency: Best outcome determinations are performed with the highest available transparency, consistency and precision.
- Flexibility: Re-evaluation of value and risk is possible at any point in the loan servicing process to produce a best outcome scenario for both the borrower and the servicer.
- Dynamic pricing and product eligibility: Decisioning engines facilitate stratification of asset bids by providing a breakdown between performing loans, loans heading for foreclosure and loans eligible for loan modifications or loss mitigation.
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