The need to continue to foster transparency in the default servicing process, prompted CoreLogic (CLGX) to unveil its new default servicing platform, DefaultView, at the Mortgage Bankers Association national servicing conference under way in Orlando, Fla.
The Web-based platform allows servicers to access and keep track of every stage and development in the default servicing life cycle. The tool has nine different modules that are all interconnected, allowing users across a servicing shop to see the full transaction history. The platform provides users with workflow steps, specific data on loans, results on previous steps taken and needed documents as well as important messages.
"DefaultView is one of the most transparent and cohesive solutions for managing default," said Kevin Wall, senior vice president of default dervices for CoreLogic. "This platform is unique in that it uses a unified approach to give servicers an unprecedented level of visibility into the path of a loan in default from beginning to end. All modules can be used together as an end-to-end solution, or in configurable combinations suited to specific needs."
CoreLogic is toting the tool as one that can cut bottom-line expenses while providing helpful information to servicers that can help maintain the health of serviced loans.