Wholesale Processing Companies
Following a similar model as wholesale lending, loan modification and short sale processing companies find themselves in high demand from law offices, mortgage professionals, realty offices, and even servicers. Many companies and loss mitigation professionals cannot handle the full client file life cycle, which consists of prospecting, qualifying, collecting signed documents/financials, processing, and negotiating final resolutions, while simultaneously keeping all parties up to date. That's why they use an outsourced wholesale processing company. Our software platform makes it easy for a wholesale loan modification or short sale processing company to setup "branches" with unlimited agents underneath each "branch" to properly track and update loan modification and short sale files or any other type of client file. With our private label solutions, the wholesale processing company can rest assured that their clients will know the software belongs to them, while making it easy for clients, agents, and "branches" to see real time updates online, email or text message.
Law Offices nationwide have seen an influx of demand from consumers seeking legal counsel to help save their home from foreclosure. The legal tactics may vary from one law office to another, ranging from residential/commercial loan modification, short sales, loan forbearance, DIL, forensic auditing, bankruptcy, and litigation. Managing these services and various client types can be daunting, but our system is designed for these very specific services. TheLoanPost is designed to help manage the loss mitigation file flow from intake, to processing, to final negotiations or resolutions. Regardless of which side of the fence your law office sits, our software platform will help manage the full process and provide complete visibility for your organization, partners, lenders/servicers/investors, and clients.
HUD Counseling Agency
The media, government, and lenders/servicers have done a tremendous job in getting the word out on FREE advice and help on avoiding foreclosure and loan modification. In fact the media and government have done such a great job, that they have completely flooded the HUD counselor network. HUD has thousands of approved counselors and agencies throughout the nation and managing the intake and qualification process must be a nightmare! With no centralized software system to track the process for all parties, each counseling agency is left with the decision to find the right technology solution to automate and streamline their loan modification process. Our loan modification system is perfectly design to assist in a multi-tiered, HUD counseling network or single branch. Ask us about our special pricing discounts for Non-Profit counseling agencies.
3rd Party Advocates
The government, media, and lenders have given ALL 3rd party advocates a bad rap in one shared blanket statement- "Any service asking for a fee to help you with a loan modification is a scam!" While the mortgage industry and loan modification industry definitely has its share of fraud, it also has its share of well qualified professionals specializing in loss mitigation services. Most States have passed some form of legislation to control who, how, and when can collect on loan modification services. Many 3rd party advocates like mortgage professionals, realtors, and entrepreneurs find TheLoanPost a perfect solution to start a compliant loan modification business or short sale business because of our private labeled Do- It-Yourself loan modification system that helps automatically create a HAMP compliant, bank ready loan modification package. Additionally, our billing tracking system makes it easy to track when money is owed in phases as mandated by certain States and SB94 laws. Relating to compliance, we have a built in report tool that generates a quick summary report on all historical actions performed on a client file like all the statuses, notes, tasks, and outbound email communications. On top of these robust features, you will find that our loan modification software and short sale software system has affordable pricing, easy web based setup, and friendly customer support.
Most large servicers have custom or very expensive software systems with advanced features and integrations to help with their loss mitigation efforts, however some portions of their portfolio may get outsourced to a sub-servicer specializing in loss mitigation. Specifically, they may be contracted to help reach 'X' number of borrowers in default or eminent default by pro-actively contacting and/ or pre-qualifying borrowers for work out arrangements via HAMP and private programs. Pro-actively reaching these borrowers with our automated, streamlined solutions can save thousands and maybe millions of dollars in lost revenue and operating costs. Our systems allow clients to login, complete a full application, synonymous with the HAMP-RMA form and auto-calculate a new mortgage term based off HAMPs waterfall guidelines. 3rd party AVM tools from LPS's SiteXdata AVM system will help accurately determine the property value and our built in E-signature tool will dramatically increase turnaround time on time sensitive documents needing borrower approval. We are experienced, agile software developers with an extensive mortgage and loss mitigation background, which means we are flexible and adaptable to your custom needs. We can integrate important 3rd party tools for AVMs, 4506 services, credit reporting data, etc.....
Outsourced Mortgage Outreach
Similar to the Sub-Servicer/Investor Model mentioned above, outsourced mortgage outreach services are being commonly used by the large lenders/servicers, and mortgage investors. The ultimate goal is to reach as many borrowers in default or eminent default before it gets too late and offer an aggressive resolution to keep the borrower in their home or utilize HAFA- alternatives to foreclosure like a Short sale. Loss mitigation industry trends are pointing to more short sales as the fastest path to a housing recovering as indicated by leading industry experts and CEOs at major servicers and lenders. Our short sale software platform helps manage the whole process including the REO management and 3rd party vendor relationships for legal, title, appraisal, realtors, and even the homeowner can login to answer questions, upload documents, and E-sign agreements.
A growing trend in the foreclosure court systems and bankruptcy courts nationwide, is mandated mediation or arbitration. Certain States have mandated that the lender filing foreclosure enter into mediation to determine if a work out is feasible between the borrower and the lender. With this new law in effect, and many other States to follow suit, demand will continue to increase, which adds more pressure to the lenders to pick up the pace in expediting loan resolutions. With our loan modification mediation software, multiple users associated with a client file can access instant eligibility, HAMP qualification summaries, property value, hardship information, income/expense reports, and much more. When lenders and servicers are forced to resolve foreclosure cases in mediation every 30 minutes daily, powerful, automated, web based, software is the only solution!
Do-It-Yourself (DIY) Loan Modification System and Short Sale System
We provide turn key software systems for a DIY loan modification software business. The system will allow your homeowners and affiliates to register an account, choose a payment plan from up to 3 plans with varying customizable services, and the best part is you get to keep all the fees charged to the consumer! You only have to pay 1 flat monthly fee. After the consumer registers they will be guided through the process of filling out all the fields. For loan modification type clients, they will have a HAMP based automated proposal generator available via 1 click auto-calculation, saving them time and unnecessary headaches. If they need help or get stuck, you can easily assist the client from your back end of the software. The final product is a bank ready, HAMP compliant Loan Modification package. See sample here.
The DIY system can also work for Short Sales and is ideal for any realtor looking to quickly streamline the short sale process and generate a bank ready short sale package. The realtor follows a similar process as above, except they can utilize more features like E-sign technology to retrieve Signed docs from the homeowner, task/reminder tools, and access to all the forms and docs necessary in their industry.