Servicers Direct Technology
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The document discusses technology solutions from Channel Inc. for managing distressed assets and loss mitigation processes. It describes analytical services, a loss mitigation waterfall, broker management, online offer management, and customization capabilities. It also discusses HAFA compliance workflows, loss mitigation analytics, data and contact management, loan modifications, short sales, REO asset management, and outsourced negotiation of junior liens.
Servicers Direct Technology
- 1. Technology powered by Channel Inc.
- 2. Partnership & Vendor Structure
- 3. Technology Solutions Portfolio Management - Analytical services to assist in evaluating portfolio risks, needs, and preferred loss mitigation & short sale strategies. Loss Mitigation Waterfall – Technology solutions to manage distressed assets from default through HAMP, HAFA and REO. Broker Management – Agent network trained to reach out to homeowners improving execution and closing percentages. On Line Offer Management – High traffic marketing exposure and on-line sealed bids increase execution rates and sales prices of short sale listings. Customization – Technology platform which is fully customizable to meet the growing needs of the servicer, special servicer or business process outsource firm. Vendor Management – Order placement, tracking and reporting are all managed from the centralized platform. End to end solution for servicers loss mitigation needs. Full outsource with custom features to suit your every need.
- 4. Consumers attempt to initiate loss mitigation process Borrower gets a contract on their property Servicer must react to determine if it is even eligible for a short sale and must determine if it can be sold and how The Buyer backs out due to the lengthy process and confusion Realtors submit short sales ad hoc Packages are inconsistent, incomplete or illegible Constant drain on call centers and loss mitigation departments Strain on HAFA compliance HAFA compliant system oriented process Loss mitigation teams have total control on the process Technology driven automation eases work load on staff Predictable metrics enable sound budgeting and allocation of assets Stratify distressed borrowers by degree - work smarter not harder by grouping distressed borrowers in tiers that support your internal policies and procedures. HAMP eligible NON-HAMP eligible Analysis of junior liens to determine closing probabilities Target your high risk current customers - Option Arms, 100% CLTV, Stated Income, Declining markets, etc. and find out who is already listing their property. Work with them now. Using state of the art technology and best practices is the SMART solution to your loss mitigation needs. Unpredictable and a costly drain on your resources, this is an obsolete business model for today’s fast paced environment. Lender/Servicers work proactively with the borrower to properly package the property for sale. The result – the property gets SOLD! Proactive Campaigns Reactive Campaigns Reactive and Proactive Campaigns
- 5. Loss Mitigation Analytics – Analytical modules to assist in evaluating portfolio risks, needs, and preferred loss mitigation & short sale strategies. Data & Contact Management – Every player in the loss mitigation arena may be managed within a single file including vendor management, email communications, and conversation logs Loan Modification – HAMP (and NON-HAMP) waterfall process is easily adhered to within the workflow. File status and tasking are all pre-set to ensure users at all levels stay on task within each file. Short Sales – HAFA compliant and a natural progression from the HAMP process makes Channel Inc. the state of the art in loss mitigation technology and business process outsourcing. REO Asset Management – The final stop in loss mitigation is seamlessly integrated into the Channel Inc. platform. Today Servicers need to be prepared to manage a distress asset from the point of default through the entire loss mitigation waterfall.
- 6. Loss Mitigation Technology Process Flow HIGH RISK LOAN CAMPAIGN
- 8. HAFA Compliance Workflow – Workflow based process management system is customized to adhere to HAFA guidelines and timetables. Integration – All aspects of the Channel Inc. platform are seamlessly integrated into the process minimizing down time and the need for multiple platforms Document management – HAFA documents (SSA, RASS and ARASS) are all pre-populated within the platform with data entered in the workflow process. Reporting – HAFA data fields required in the monthly reporting to Fannie Mae are maintained for ease in reporting and tracking. Customization – As guidelines change with the times, so is your ability to modify any or all aspects of the workflow, process and reporting mechanisms. April 5, 2010 marks the date that the Home Affordable Foreclosure Alternative (HAFA) program goes into effect. Servicers who are participating in the HAFA program will need to be fully compliant.
- 10. High Touch Workflow Solutions Proactive Communication – Reach out to home owners while there is still time to work out a viable solution. FDCPA Compliant Debt Collectors – Fully compliant to safeguard your assets. Licensed Agents – Specifically trained in HAMP and HAFA guidelines. Increase your operational efficiency – 24/7 customer service availability, on-line reporting. Reduce the risk of foreclosure – Message blast to drive response, multi-channel communication, follow up after direct mail campaigns. Certifications – ISO 9000, SAS 70 Type II, PCI compliant, FDCPA compliant. Channel Inc. has partnerships and relationships with the industry’s most trusted service providers. If you want a fully scalable solution to meet the ebb and flow of the current financial climate, outsourcing your call center can be one major advantage to your bottom line.
- 11. Negotiating Junior Liens Outsourced Negotiation Teams - Fully scalable to meet your needs, we have affiliations with industry professionals with proven track records. HAFA Compliance – Seamless integration into your existing process, this addresses the one major obstacle in the HAFA program. NON-HAFA short sales – An essential part of your short sale waterfall process will be converting to traditional short sales. Negotiating judgments and recovery notes is vital to the success of this process. Leverage – A higher degree of industry experience than most loss mitigation staff gives the Primary Lien holder more leverage in the negotiation process. Between 50-70% of distressed assets have subordinate liens which can adversely impact the success of your HAFA short sale transactions.
- 13. Broker Management Services Fully trained and certified Agents - we provide an in-depth certification program to ensure that our agent network is fully versed on the short sale process Recognized Brands – Channel Inc. is affiliated with the powerhouses of the real estate industry. Our certification programs are hosted on the e-campuses of Coldwell Banker, ERA, Century 21 and Sotheby’s International Realty. Full time referral staff – Our agent services division handles all of the functionality related to placing and monitoring short sale listings. Technology Integration – Our platform enables us to place orders with the broker network directly from the portal. This provides robust tracking and functionality. Broker Management Services is a division of Channel Inc. and NEWCO
- 14. Real Estate Agent Education Programs Certified Short Sale Agent (CSSA) – This training provides the real estate professional with essential knowledge and skill sets to deliver the highest level of service and expertise. Certified Foreclosure Agent (CFA) – Provides real world applications for handling REO listings from intake to closing. QuickSale Agent Training – Hands on training to provide the real estate professional with the tools to market their listings and place sealed bids for higher execution rates. Servicer Specific Training – We have a full training and educational department who work directly with servicers to develop specific training for their needs. Technology Solutions – All of the training and education may be conducted live on-site, live via webinar or via recorded webinar to maximize the time involved. Agent University offers a wide array of coursework from beginner to advanced levels for real estate professionals who want to grow their business in the distressed property arena. These courses may be taken as individual classes or combined resulting in certifications through Agent University.