DRI: Default Automation for the 21st Century
For loan servicers throughout the country, the ongoing mortgage crisis has brought one crucial issue to light: yesterday’s technology cannot effectively process the volume and complexity of today’s defaulted loans. What was once viewed as the safe approach to managing distressed assets is no longer safe. To the contrary, it is dangerously inefficient and impacts severely on your organization’s bottom line, as well as on your relationships with investors and clients.
Nobody understands this problem better than DRI, the recognized leader in default solutions for over 25 years.
To solve it, we developed DRI OFFICE™. Strategically designed to meet today’s — and tomorrow’s — business challenges, DRI OFFICE™ combines groundbreaking concepts in default automation with the latest technology from Microsoft® to accelerate resolution, minimize labor costs and avoid exposure to risk. The result is the industry’s most comprehensive, cost-effective default solution.
The New Standard in Comprehensive Default Automation…
- More files per FTE—a dramatic increase in productivity
- Highly scalable to your changing business needs
- Secure transparency across all departments/modules
- Highly configurable to your unique business model
- Open architecture integrates seamlessly with your current systems
- Maximum in-house control of data, reports and workflows
- Supports standard industry formats and protocols
- Simple, straightforward pricing with no hidden fees
- Superior customer service and support
Manage and Control the Entire Default Process
DRI OFFICE™ redefines the concept of comprehensive. From pre-foreclosure to resolution, this unrivaled suite of default management modules enables your organization to monitor and control every stage of the default process down to the last detail.
Advanced Collections Process Fannie Mae guidelines for QRPC and Borrower Contact, Solicit Borrower for further information, coordinate start of default checks, generate letters and order services.
Service Ordering Platform | FNMA & QRPC | Analyze & Prepare | ScoreCard Timelines
Pre-foreclosure: This module analyzes, manages and directs delinquent loans prior to referring them to foreclosure.
Unlimited Plans | Custom Interface | Custom Financial Analysis | Actions Recorded
Loss Mitigation: Process and control defaulted assets through management defined plans. Embedded tools lead users automatically to the best resolution.
Pre-foreclosure | Service Ordering | Flexible Interview
Loss Mitigation | Decision Model | Gain/Loss Analysis
NPV | Approval Engine | Document Generation
Document Tracking | Performance Tracking | Investor Approvals
Bankruptcy: Manage and control the major steps involved in resolving bankruptcies by chapter.
Attorney Communication | POC | Monitor/Track Payments
Initiate Legal Actions | Manage Legal Processes | Monitor Stipulation Plans | Important Date Monitoring
Foreclosure: Users are automatically guided through the required steps in every stage of each foreclosure type via embedded industry standards, tools and services.
Attorney Communication | Prepare Bid | Manage Legal Process | Document Tracking | Title Tracking | Important Date Monitoring
REO: Management-defined standards monitor the owned property through every stage of the REO and auction process.
Assign Broker | Inspections | Evictions | Code Violations
Valuations | Repair & Maintenance | Market Strategy
Manage Listings | Monthly Broker Reporting | Offer Management | Title Tracking | Closing Tracking | Manage Tenants | Manage Vendors
Claims/Investor Billing: Control and manage the claims and billing process through embedded industry standards and tools. Required information is automatically collected by claim and loan type, creating a complete record of reimbursement expenses.
Litigation: Control and manage any/all lawsuits against the mortgagor and lender. This includes third-party lawsuits where either the lender or borrower is named in the lawsuit which may occur at any point in time during the default process.
Extensions Filed | Responses Filed | Title Claims Filed
and Resolved | Settlement Request and Agreements
Complaints Filed | Judgments Entered
Administration: Manage administrative or support functions for defaulted loans that do not fall within the realm of the four main modules of Foreclosure, Bankruptcy, Loss Mitigation or REO.
Walk | Charge Off | Title Issues | Insurance Claims
Loss Analysis
Preservation: Manage all the processes required to inspect, repair, pay and report the preservation process.
Code Violations | Reconveyance | Marketable Title
Property Damage | Winterization
Auto/Consumer Debt: Manage the process of locating, identifying, servicing and disposing of non-real estate collateral including cars, RVs, boats and unsecured debt. DRI OFFICE™ enables the simultaneous tracking of multiple collateral secured by one loan.
Leverage the Power of Integrated Design Technology
Using state-of-the-art Integrated Design Technology,
DRI OFFICE™ unifies case, document and workflow management in one seamless system. Secure transparency across all departments/ modules ensures consistent connectivity among all authorized users, so they always have access to relevant, updated information. This eliminates the frequent disconnects that impede the resolution process and often lead to misinformed, costly decisions. Users are no longer forced to jump from one module to another — or from one system to another — to determine case status.
Drive Resolution through Intuitive, Proactive Automation
The system’s unrivaled efficiency begins with its role-driven work queues. Operating invisibly — so the user can focus on the task at hand — they automatically, proactively send work to the user. The system’s innovative rules engine ensures standardization and automation, intuitively evaluating data and determining next steps. Many tasks can be ordered without human intervention. And all actions are measured against your standards.
Customize Our System to Meet Your Requirements
From installation to operation, DRI OFFICE™ provides
a streamlined, user-friendly experience. Its open architecture integrates seamlessly with your current systems. Highly configurable, it installs with best practices templates that can be modified easily to meet your organization’s unique requirements.
Accelerate Productivity with Automated Outsourcing Services
A secure web services layer facilitates convenient, often automated outsourcing to a full range of vendors, brokers and required services. The system integrates seamlessly with third-party vendors. Authorized users can review outsourcer work queues and control their access to information. The tools and features required to resolve each case are embedded in the workflow model, providing a highly automated environment for ordering, receiving and tracking.
Enjoy All Conveniences without All the Click Charges
Unlike other systems that are designed to order services — with your organization incurring the fees — DRI’s system reduces your labor costs while providing precise, up-to-the-minute status reports on all cases. Simple, straightforward pricing eliminates hidden fees or click charges for data access.
Maximize Control of Information, Minimize Costs
DRI OFFICE™ provides maximum control of data, reports and workflows through centralized, “in-house” storage. All data resides on your server, providing users with secure, real-time access to accurate, updated case relevant information. Designated users can access information without leaving their primary management system—and without incurring click charges.
Access Complete, Reliable “Real Time” Reporting
DRI OFFICE™ continuously processes and updates data in real time. Sophisticated management tools execute summary reports in a variety of formats. General reports allow management to monitor all case activity throughout the life of the loan. This ready access to accurate data allows for more thorough analysis and quicker response to developing trends, thus increasing productivity while decreasing exposure to risk.
Provide Clients and Investors with Superior Service
The system’s advanced capabilities allow your organization to provide investors and clients with an enhanced level of service. Available options include 24/7 real-time operations, a secure, self-service website, and voice/tone response systems. The web layer facilitates document processing with everything from signature to remote notary option features. An advanced “performance vs. standards” management system and reporting processes allows your clients to define their own standards and parameters for each critical process.
