224433 Resource 213692 213904 126221 1232664669643 1232665641914 Controlled Overture Technologies Launches Automated Decisioning for Loss Mitigation

Mozart for Special Servicing Speeds Servicing of Distressed Mortgages, Reduces Repeat Default Rates, Improves Transparency

Overture Technologies announced today the launch of Mozart for Special Servicing, an automated decisioning system for servicing distressed mortgage assets. Mozart for Special Servicing is designed to address the unprecedented volume of delinquent mortgages in the U.S. today as well as the increasing complexities in modifying loans and mitigating financial losses due to foreclosure. Mozart for Special Servicing allows servicers to manage and successfully apply a more robust set of alternatives to borrowers in distressed mortgages, and more quickly yield a “best-fit” modification that can reduce repeat default rates and preserve the value of mortgage assets. “Significant loan-level data and analysis, up-front, and surgically applied is required to manage the unprecedented volume of distressed mortgages and increasing complexities of products, programs, and regulatory guidelines in the 21st century mortgage industry,” said Linda Simmons, general manager of Overture Technologies’ Mortgage Finance Solutions. “Mozart for Special Servicing can rapidly provide a more accurate, current view of borrower and asset information, offer a wider range of suitable alternatives to borrowers, reduce recidivism by getting borrowers into the right solutions the first time and create an audit trail for transparency.” Mozart for Special Servicing is available now and can be configured, integrated and running in a matter of weeks. To see a demonstration of Overture Technologies’ Mozart for Special Servicing, visit booth #518 at the Mortgage Bankers Association National Mortgage Servicing Conference in Tampa, February 17-20. <a target="_blank" href="http://www.overturecorp.com/pressreleases/Overture%20Special%20Servicing%20Launch%20-%2001.22.09.pdf">To read the full press release, click here.</a> 10 application/xml Automated Decisioning Linda Simmons Loss Mitigation Mortgage Finance Mozart Press Releases Special Servicing false Mozilla/5.0 (Windows; U; Windows NT 6.0; en-US; rv:1.9.0.5) Gecko/2008120122 Firefox/3.0.5 127.0.0.1 127.0.0.1 rdvorak 69.255.8.53 false true false false true 213692 blog blogsite/Overture/web