Sterling Launches Scalable Loss Mitigation Solution
Default technology provider Sterling Technology Solutions launched its flagship loss mitigation system, which facilitates loan modifications and other retention strategies, scalable even up to high-volume servicing. The Web-based platform, TouchPoint, delivers modification solutions both through the Treasury Department's Home Affordable Modification Program (HAMP) and through customized investor loan modification solutions. Although officially launched only recently, the platform has for months offered modification processing solutions to 20 major servicers and investors. “The vast majority of technology solutions out there were not designed to deal with the volume and complexity of today’s default crisis,” Sterling CEO Ron Morgan said in a company statement. “Unlike other systems, hastily cobbled together to fulfill the Obama Plan, TouchPoint is the industry’s first Web-based solution already driving exceptional, scalable results on HMP to give servicers instant relief." Write to Diana Golobay.