Loss Mitigation Application Processing demo
Every hardship application read, checked against the investor's list and chased to complete before the clock runs out. 1:15
What the demo shows
A loss mitigation solution for servicers that checks hardship packages and chases gaps.
Six agents read every page from fax, portal, mail and phone the minute it lands and fill each package's completeness ring against the investor's list for that household; the gaps are named with their pages and drafted as requests the same day for the intake specialist to sign, and when the ring closes the package goes to the underwriter with the 30-day clock running and the foreclosure hold sent.
Transcript
- Loss Mitigation Application Processing checks every hardship package a servicer receives and chases what is missing.
- Each package is a ring of what the investor requires.
- The Ostranders have six of ten.
- Twenty-one pages came by fax, upload, phone and mail.
- Each was read as it landed.
- The ring names four gaps, Nina's signature, a stale-paced stub, September's statement, Mateo's letter.
- Each gap has its request drafted, due before the 38-day line.
- Renata adds Mateo's form and signs.
- The letter goes out on day two, not day five.
- Thursday evening, Nina uploads four files, and each one fills its segment.
- The ring closes. Complete, evaluate by November 14th, and the sale is on hold.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.