DRI Enhances Default Software

DRI Management Systems, a Newport Beach, Calif.-headquartered default management solutions provider for the mortgage industry, has added four new modules and improved Web functionality to The Default Solution software.

In addition to its existing suite of six modules, The Default Solution will now feature modules for litigation, property preservation, pre-foreclosure and administration. These new modules allow users to service defaulted loans in even more stages, the company says.

The litigation module allows users to create templates for each litigation case type to manage a number of cases, the company adds. The property preservation module enables users to order inspections, receive results, approve work and pay outside vendors electronically. For loans in pre-foreclosure status, the pre-foreclosure module analyzes and forwards loans meeting user-specified criteria to the foreclosure and loss mitigation departments. By using the administration module, management can create an unlimited number of templates for specific loans and multiple processors can be assigned, DRI notes.

Furthermore, The Default Solution will now feature additional connectivity to third-party service prociders via the Internet. The new feature allows current DRI clients to request and receive information from their third-party vendors within the DRI application - reducing the amount of time it takes to request, receive and process the information.