Features
include:
· Ability to manage multiple foreclosure processes including: judicial,
non judicial, and replevin
· Ability to monitor every step in the foreclosure process through industry-standard
milestones and evaluate performance against those standards for each step.
· Ability to monitor “due diligence” standards set by investors
and agencies, against performance.
· An Interactive Status Report to allow a view the entire portfolio,
or a portion of it, checking the performance against standards, and drilling
down to a category of loans, or one individual loan
· Allow placement of a foreclosure ‘on hold’ with management
defined reasons, e.g., Bankruptcy, Probate, Military Indulgence, etc., some
of which “stop the clock”, and others continue to let the timeline
evolve. Provides monitoring of all loans on hold, and the hold period.
· Prepare Bidding Instructions using the online tool, and save the form
electronically.
· Track management-allowed Delay and Postponement Reasons, for easy research
and explanations of loans beyond their standard.
· Process a Gain / Loss Analysis to determine the loan’s financial
position during the foreclosure process.
· Establish an automated interface with Lenstar, to eliminate redundant
data entry of notes, milestone completions, and messages.
· Track an unlimited number of previous foreclosures to view prior legal
pursuits of the property.
· Notation on status screen of an active bankruptcy or loss mitigation
action on a loan in Foreclosure.
· Create and store letters for borrowers and attorneys, and email them
directly from the system if desired.
· Keep track of all property values received during (and before) the
foreclosure process.
We will be demonstra...[more]