DIMONT, a leading provider of insurance claims management and adjustment services for mortgage lenders, servicers and investors, recently released its Loss Draft service, which leverages DIMONT’s industry knowledge of insurance claims, inspection reviews and repair processes, and provides a self-service web portal offering an efficient collateral protection solution to the mortgage industry.
Built in partnership with Indisoft, the portal enables borrowers, mortgage institutions, and DIMONT claims personnel to upload claims-related documentation and to share case status information electronically, while allowing servicers to maintain direct borrower contact through existing call centers.
“The Loss Draft service is important because it provides the mortgagee peace of mind that the proper claims management process is being followed and that remedial efforts are monitored, ensuring the repairs are made using the disbursed funds, and the collateral is protected. Mortgage servicers often struggle with managing this complex process efficiently and effectively both internally and externally facing to the borrower, so the Loss Drafts service is a much-needed solution for them,” said Valerie Elkins, vice president, business innovation. “Additionally, customizable and real-time reporting offers servicers further insight into the status of loans within the loss drafts process.”
DIMONT’s experience in insurance claim management, superior technology, proactive file management, and predictable client cost model results in a smoother loss draft process for both servicers and borrowers. In addition, the customer service experience for the borrower is enhanced because of the education provided by the guided process, as well as the continuity in relationship management provided by the servicer.
Looking ahead, DIMONT President and CEO Denis Brosnan sees the company’s suite of Collateral Loss Mitigation (CLM) solutions as its biggest near-term opportunity, as it enables servicers to go beyond the ordinary efficiency/effectiveness concerns and proactively reduce losses on the disposition of collateral.
“We look forward to offering our unique CLM suite to customers — the linking of our hazard and investor claims management departments with additional servicing offerings designed to identify issues and resolve them before they can cause curtailments or reconveyance,” said Brosnan.
“Servicers gain access to a unified technology and processing platform than enables DIMONT to provide parallel processing and enhanced quality control. This solution will be disruptive in the marketplace.”
Denis Brosnan, President and CEO
Denis Brosnan was named president and chief executive officer of DIMONT in July 2015. He brings more than 15 years of executive leadership experience in technology and technology-enabled services firms for the financial services industry.
Prior to joining DIMONT, Brosnan served as the chief executive officer of Prommis Solutions, one of the largest national providers of technology-enabled default-related processing services. Brosnan began his professional career as a practicing attorney and served in the JAG Corps of the U.S. Army Reserve.
Valerie Elkins, Vice President, Business Innovation
Valerie Elkins joined DIMONT in 2016 and serves as vice president, business innovation. Elkins brings 20 years of leadership experience in operations, technology and change management in the financial and legal services industries.
Prior to DIMONT, Elkins served in executive leadership positions with default law firms Kozeny & McCubbin, L.C. and Buckley Madole, P.C. as well as Fidelity National Title Company.
Stacie Rankey, Vice President, Client Development
Stacie Rankey joined DIMONT in 2016 and serves as vice president client development. Previously, Rankey served in executive positions at the ALFN, LOGS and eMASON. She brings 17 years’ experience in sales, client relations, and marketing within the mortgage banking industry. Rankey’s focus is on delivering client-focused proactive solutions to DIMONT clients.