Managing the End-to-End Loss Mitigation Process
Regulatory reform and constantly updated government programs (e.g., HAMP, HARP, HAFA) are additional challenges for servicers when managing operational efficiencies and the pace of change. While home preservation will be a key focus over the next three years, volume spikes are now occurring in other areas such
as short sales, deed-in-lieu and foreclosure. The lesson learned from the past year is that human "Band-AidsTM" create more operational problems than they solve.
Leading mortgage servicing companies use Pega's Loan Loss Mitigation (LLM) Framework to achieve dramatic efficiency throughout the mitigation process. Regardless
of the loss mitigation path, whether for government-sponsored or custom programs, the framework's inherent case management capability pushes the file through early
collections, loss mitigation, short sales, deed-in-lieu and foreclosure. All activities are controlled, tracked and viewed in a single case!
Loan Loss Mitigation
- Provides end-to-end case management for loss mitigation
- Improves productivity by streamlining work and eliminating hand-offs
- Removes departmental silos by wrapping and renewing existing legacy systems