Excerpt from: Overture News
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| April 17, 2009 | | In an interview with Washington Business Tonight, Overture’s Bill Kelvie speaks on the size and scope of the mortgage delinquency challenge and on measures being taken to solve it | Overture’s CEO, Bill Kelvie, was recently interviewed by Washington Business Tonight about the mortgage delinquency challenges facing the country. In the interview, Kelvie laid out the key size and scope of the challenge, discussed the different causes of and cures for delinquency and explained Overture’s role in easing the work-out burden:
Banks are swamped with demand for loan modifications. Until recently, tools and techniques for deciding which modification was correct for which borrower and in which circumstances were manual, and thus slow and prone to inconsistent application and error.
Kelvie also explains how technology like Overture’s Mozart for Special Servicing alleviates these issues. There is much to do, but there is hope.
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