Residential Credit Solutions (RCS), a Fort Worth, Texas-based distressed mortgage servicer, implemented its new automated loan modification document services platform. The new platform integrates software from Dallas-based eMortgage services provider SigniaDocs and Bethesda, Md.-based special servicing software developer Overture Technologies to create electronic mortgage modifications, including those in the Making Home Affordable Modification Plan (HAMP). SigniaDocs software provides electronic loan modification documents. RCS takes the data from those forms to try to match an appropriate loan program in Overture’s Mozart for Special Servicing (MoSS) module to evaluate a borrower’s options. The SigniaDocs/Overture partnership aims to help lenders and servicers work quickly and cost-effectively through a backlog of delinquencies and forcelosures, according to a press statement. “With eModifications, we find that 50 percent of consumers close their modified loans the same day they receive them online,” said SigniaDocs president Tim Anderson. “Over 80 percent are executed within two business days.” Write to Austin Kilgore.
Servicer Adds Electronic Modification Platform
Most Popular Articles
Latest Articles
Better narrows loss in 2023, aims to reach profitability soon
The digital lender changed its operating model and plans to continue investments in its proprietary tech platform
-
Pending home sales pick up in February: NAR
-
11 real estate events & conferences to help you thrive in 2024
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
-
Renters gain financial edge over homebuyers in key U.S. markets: Realtor.com