Software solutions provider Pegasystems has developed a Loan Loss Mitigation platform to offer mortgage servicers. The company said that it designed the product to give servicers an efficient, cost-effective approach to loss mitigation operations and compliance to increasing regulatory reform. Designed to enable servicers to keep up with changes in government-sponsored programs, the Loan Loss Mitigation Solution is powered by Pegasystems’ Build for Change BPM technology and is equipped with client loan modification implementations and lending-specific case management capabilities. Due to continuous reform to government-sponsored programs, such as Home Affordable Modification Program (HAMP), Pegasystems says its Loan Loss Mitigation Solution allows specialists, borrowers and financial counselors to view the status of a loss mitigation case at any time. “Mortgage servicers need technology that allows them to quickly adapt to meet new and changing programs’ requirements so that they can continue to deliver high-quality customer service while reducing operating costs and mitigating losses,” said Tony Young, Pegasystems principal of finance services industry solutions. Write to Ariana Garza.