Tag Archives: Launches

Vertical Capital Solutions Launches Advisory Business

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New York, NY (PRWEB) June 24, 2009

Vertical Capital Solutions (“VCAP Solutions”) in partnership with Vertical Capital, LLC an SEC registered investment advisor with over $ 4.5 billion in AUM, has launched a valuation and advisory business that will provide a wide range of services to clients. The platform was created by combining Vertical Capital’s market leading technology and analytics with a successful advisory platform – Kensington Blake Capital – which has deep experience in structured products valuation, advisory, risk management, and the trading of complex loans and securities.

The VCAP Solutions management team has held senior leadership roles at global banks, insurance companies and asset management firms, bringing firsthand experience in the risk management of loan and structured product portfolios. The effort is led by Charles McLendon, who will join as Managing Partner. McLendon was formerly the President and CIO of Primus Asset Management and was the Global Head of the Investment Grade Credit Group at Bank of America. Ricardo Diaz and Brian Zwerner, former partners at Kensington Blake Capital, will join as founding Partners in VCAP Solutions. The company is launching their practice with a core team of seven professionals that bring over 125 years of combined experience with support from Vertical Capital’s highly advanced proprietary loan level technology platform. VCAP Solutions will have dedicated professionals in offices in New York, Atlanta and Chicago.

VCAP Solutions has been formed in response to the unprecedented changes in the financial markets that have created a demand for independent advice, valuation, and analysis. The VCAP Solutions’ team brings a wealth of structured products, whole loan, derivatives and capital markets experience to a wide range of potential projects. While each project is unique, VCAP Solutions’ services are focused in three main areas: Valuation and Financial Reporting, Risk Assessment, and Strategic Advisory. VCAP Solutions’ range of capabilities are broad, including delivering independent valuations on large portfolios, providing granular cash flow and stress analysis, and assisting in portfolio management and trade execution on individual assets and portfolios.

“Our clients need access to unbiased advice supported by granular information, market perspective, and robust analytics capabilities,” said Charles McLendon, Managing Partner at VCAP Solutions. “The combination of an experienced team of structured products professionals with access to market leading tools developed over the last six years at Vertical Capital will allow VCAP Solutions to be an immediate leader in the market for providing valuation and risk management services.”

“Vertical Capital has invested heavily in building out the best tools in the marketplace for evaluating complex loans and securities. We are very pleased to have assembled this high caliber team to meet clients’ needs” said Tom Pearce, Managing Partner at Vertical Capital. “We are thrilled to have the VCAP Solutions team as partners to develop the complementary advisory and solutions business,” said Brett Graham, Manager Partner at Vertical Capital.

For more information on the VCAP Solutions team and services, please visit: http://www.vcapsolutions.com, or Contact:

Charles McLendon

Managing Partner

Vertical Capital Solutions

Phone: 212.786.5300

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DebtMarket Launches as First Automated Portfolio Marketplace; Will Expedite Pricing, Purchase and Sale of Consumer Debt

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Danville, Calif. and Los Angeles (PRWEB) August 17, 2009

In an effort to answer the vexing question of how financial institutions can price troubled assets, DebtMarket (http://www.debtmarket.com) launches today as the world’s first automated marketplace that connects buyers and sellers of loan portfolios.

DebtMarket enables an estimated 60,000 loan originators (primarily banks, credit unions and finance companies) and portfolio owners (primarily institutions, hedge funds and private equity investors) to list loans from the major consumer loan asset classes, including automobiles, mortgages and student loans. In the months ahead, the company also will support credit card portfolios and other asset classes. DebtMarket accepts loan portfolios of any size, credit quality and loan performance.

DebtMarket enters a market that is measured in the trillions of dollars. Total U.S. revolving and non-revolving consumer debt, including mortgages, was more than $ 14 trillion at the end of 2008, according to the Federal Reserve. DebtMarket also has the potential to play a role in helping both the federal government and the lending industry price hundreds of billions of dollars in troubled assets. Clearer market pricing results in greater market liquidity and efficiency.

The company also announced it has tapped Intel’s former research director as CTO and enlisted several top consumer finance leaders for its advisory board [see the news release, “DebtMarket Attracts Leaders in Technology, Financial Services”].

“DebtMarket is a solution to the credit crisis, applying game-changing technology to provide a transparent, efficient, standardized platform that financial institutions and institutional investors anywhere can use to price, purchase and sell debt,” said DebtMarket Founder and Chairman Scott Walchek. “DebtMarket transforms the existing secondary debt market – much as eBay transformed the auction marketplace – by making it easy for institutions and institutional investors of all types and sizes to participate.”

A serial entrepreneur who has created, led and/or funded an impressive roster of highly successful start-up companies, Walchek has been an innovator in educational video games, a pioneer in Internet shopping cart technology, and was among the first to see the search technology opportunities in China with Baidu. “Technology is the gateway to transparency, and transparency is the tonic that has the power to re-ignite the economy,” Walchek said. “The world’s first automated portfolio marketplace, DebtMarket is the antidote to traditional opaque loan sale methodologies that talk about transparency but fail to deliver. We see DebtMarket as an ideal tool for regulators seeking to expedite the clean-up of toxic bank assets, especially for those small- to mid-size institutions that previously have lacked a marketplace for their loans.”

DebtMarket enables participants to establish and negotiate pricing, perform due diligence and complete all the paperwork needed to close the transaction. The end-to-end transaction technology eliminates inefficiencies, reduces costs, and invites participation from buyers and sellers regardless of size, geography or other previous barriers to entry. DebtMarket technology delivers transparency through a series of essential elements: an auction-style marketplace for competitive pricing; loan-level detail; direct contact between buyer and seller; a visible next-step process in the transaction; and a published fee structure.

“DebtMarket has the potential to transform the way institutions and institutional investors buy and sell consumer debt,” said Mike Sheridan, Co-founder and President of DebtMarket. “DebtMarket acts as a market stabilizer by providing access to buyers and sellers beyond companies’ traditional reach. This helps address the ‘price discovery’ problem that historically has discouraged so many small- and medium-size institutions and new investors from participating. DebtMarket’s disruptive technology pushes the envelope by handing control to buyers and sellers, which results in greater transparency.”

Industry observers suggest that DebtMarket will initially attract buyers and sellers of distressed debt, but that demand for a full-spectrum, technology-enabled solution is likely to extend to the market as a whole.

“The market today is distressed, with assets being sold at a discount — and that’s where an online marketplace like DebtMarket will generate its early successes,” said Jim Jones, former CEO of Residential Capital, Inc. (ResCap), the real estate finance arm of GMAC, and one-time head of consumer credit at both Bank of America and Wells Fargo. Historically, securitization has provided debt originators and portfolio investors with the information they required to make a buy/sell decision. “The difference today is there is no securitization taking place,” Jones said. “The DebtMarket platform assimilates the same type of information buyers and sellers need and provides it via a transparent medium. The result is that buyers and sellers can be more confident that their bid will be evaluated on an equal footing with others. That’s what transparency is all about.”

Walchek and Sheridan began testing the DebtMarket model in July 2008, when they launched a beta to address a single asset class – auto loans. Since then, GDNAuto has transformed the way auto dealerships and financial institutions trade as much as $ 30 billion a year in subprime auto debt. The platform’s success within the auto finance realm has led to a number of significant partnerships between the newly dubbed DebtMarket and auto finance institutions and affiliated service companies.

That continues today with the announcement of a definitive agreement with Frazer Computing, Inc., a Canton, N.Y.-based provider of dealer management software, to incorporate certain features of the DebtMarket platform into its dealership offerings. Frazer is one of the industry’s largest DMS providers, with 4,700 active users, most of which are independent dealers [see the news release, “DebtMarket Signs Partnership Agreement with Frazer Computing”]. DebtMarket said it intends to pursue similar relationships across the broad consumer credit landscape.

About DebtMarket

DebtMarket (http://www.debtmarket.com) is the world’s first automated marketplace that connects buyers and sellers of loan portfolios. The innovative DebtMarket technology platform delivers price transparency, process automation and direct buyer/seller communication in a secure online environment.

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Standard & Poor’s Launches New Data Feed Delivering U.S. Residential Mortgage-Backed Securities (RMBS) Loan-Level Data

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New York (PRWEB) October 28, 2009

Standard & Poor’s Fixed Income Risk Management Services (FIRMS), an analytics and research unit separate from S&P’s ratings business that delivers solutions to help investors perform greater due diligence on the financial instruments in their portfolios, today announced the availability of a new data feed for investors that can help them evaluate exposure and risk in the U.S. RMBS market.

Standard & Poor’s Global Data Solutions — U.S. RMBS Edition provides investors with loan-level subprime loan performance data, as well as Alternative-A, Prime Jumbo and additional collateral types. The data feed’s granular loan-level data includes static origination details as well as dynamic performance data, including delinquency status, current balance, current interest rate and more. Robust data quality standards and metrics have been established to maximize the accuracy of the data. The monthly data feed will provide users with detailed performance information within a few days of availability. Additionally, Standard & Poor’s is planning to include in the feed the American Securitization Forum’s ASF LINC, a unique loan identifier applied at the loan level and intended to help identify and track mortgages throughout their lifetime as they are bought, sold, and securitized.

“In today’s environment, it is essential for investors to have access to granular and timely loan-level data,” said David Goldstein, Managing Director. “Because S&P collects much of this information for our own research and analysis, we recognized that we could further assist investors track month-to-month loan performance, identify loan default trends, and monitor performance pools at a deal-level by giving them access to Standard & Poor’s Global Data Solutions –U.S. RMBS data.”

The U.S. RMBS Edition is available through Standard & Poor’s Global Data Solutions, a robust data platform that brings together a comprehensive series of discrete data classes for investors and third-party distributors. Investors can select the type of feed they would like to receive based on their individual needs: the universe feed or a deal-based or loan-based sub-set of the U.S. RMBS Edition.

For more information, please call toll free 1-877-SPCLIENT, Option 2 or send an email to GlobalDataSolutions_RMBS@standardandpoors.com.

About Standard & Poor’s

Standard & Poor’s, a subsidiary of The McGraw-Hill Companies (NYSE:MHP), is the world’s foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With offices in 23 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for nearly 150 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

About Standard & Poor’s Fixed Income Risk Management Services

Standard & Poor’s Fixed Income Risk Management Services delivers a portfolio of products and services to investors that serve the global financial markets by providing market intelligence and analytic insight for risk driven investment analysis, including for the debt, structured finance, derivative, and credit markets.

Standard & Poor’s Fixed Income Risk Management Services are performed separately from any other analytic activity of Standard & Poor’s. The unit has no access to non- public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.

Media Contact:

Michael Privitera

Standard & Poor’s Communications

212-438-6679

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Southside Financial Group Launches National Subprime Loan Portfolio Program to Help Franchised and Independent Auto Dealers Achieve Greater Liquidity

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Arlington, TX (PRWEB) October 17, 2011

Southside Financial Group (http://www.southsidefg.com), an active purchaser of auto finance receivables, today announced the launch of a nationwide program to purchase existing near prime and subprime auto loan portfolios from franchised and independent auto dealers.

Southside Financial Groups program includes near prime and subprime portfolios ranging from $ 500,000 to $ 40 million, service released; all portfolios are held on the balance sheet and serviced internally. The program is highly efficient with a 7-10 day total turnaround from analysis to closing, and will target accounts with 60-90 day pay history. Since the inception of this program Southside Financial Group has actively purchased and closed portfolios from dealers in Oklahoma, California, Alabama, Missouri, Kentucky, Mississippi and Texas with other purchases scheduled to close in Florida, Ohio, South Carolina, Mississippi, Georgia and North Carolina . Funding is made possible by Southsides parent bank, with the added advantage of no need to securitize plus a more stable cost of funds.

Franchised and independent dealers have responded extremely positively to this new loan portfolio program as they can achieve greater liquidity in their business ventures by letting us purchase their existing portfolios of near prime and subprime loans, Southside Financial Group COO Henry Gonzales commented. Our executive team has purchased over $ 2 billion of prime, near prime and subprime loans in the past three years and their expertise and service is beyond compare. We can analyze and review a portfolio and offer attractive pricing and very quick funding, with a 7-10 day total turn around. Southside also builds relationships with each dealer to insure a smooth transition plus long term customer satisfaction.

Southside Financial offers complete transparency and up-front pricing based on its superior analytics. A due diligence team will evaluate all loans to maximize return without interrupting the dealerships existing business, ensuring a seamless transition.

About Southside Financial

Southside Financial Group is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. Southside Financial Group buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.southsidefg.com or call: 266-590-7734

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Financial Sciences Launches ATOM Syndications

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Jersey City, NJ (PRWEB) October 20, 2011

Financial Sciences Corporation, an innovative developer of integrated enterprise financial systems, today announced the launch and implementation of ATOM Syndications at one of the worlds largest diversified providers of credit to consumers and businesses.

ATOM Syndications, a new product in the ATOM suite of fixed-income solutions, handles investor-servicing activities for the clients portfolio of over 10,000 commercial loans and leases sold to institutional investors. It provides an automated, straight-through processing solution that seamlessly links with existing servicing systems to deliver integrated investor deal administration, cash management, accounting and risk support for the entire lifecycle of a syndicated deal.

We worked closely with our client to streamline and automate operational processes and to introduce a solution that enhances their business and supports their strategic goals, said Alf Newlin, managing director and co-founder of Financial Sciences Corporation. ATOM Syndications increases capacity, reduces cost, improves quality, manages risk and enables our clients to provide a high level of service to their investors.

ATOM Syndications is a web-based solution designed to complement a financial institutions existing loan/lease servicing system. It supports a wide variety of loan and lease structures including fixed-payment amortizing deals, interest-only loans, revolvers, floating-rate loans, evergreens, quasi-leases and structured deals. ATOM Syndications represents a new offering in Financial Sciences comprehensive suite of trading, treasury, securitization, cash management and accounting solutions.

Editors Notes

About Financial Sciences Corporation

Founded in 1987, Financial Sciences Corporation is a leading provider of enterprise treasury, electronic trading and securities processing systems to multinational corporations and financial institutions. The company supports its clients through offices in the NYC metro area and Beijing, China. For more information, please visit http://www.fisci.com.

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SFG Finance Launches Loyalty Program, Forms Alliance with Subprime Analytics

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Arlington, TX (PRWEB) January 30, 2012

SFG Finance, LLC, (http://www.sfgfinance.com), a purchaser of auto paper from Buy Here Pay Here (BHPH) dealers, new car franchise dealers, finance companies, banks and credit unions, today announced the launch of its new loyalty program and the formation of a new alliance with Subprime Analytics, an analytical services leader focusing exclusively on the needs of the large and growing Buy Here, Pay Here industry.

SFG Finance is launching a new loyalty program to help dealers thrive in todays competitive environment by partnering up with premier companies in the industry that are the best at what they do. We feel this program provides a real value-add and are delighted to launch it by forming an alliance with such an industry powerhouse as Subprime Analytics, said SFG Finance C.O.O. Henry Gonzalez.

As part of the new alliance with Subprime Analytics, thousands of dealers will have access to the SFG Finance National Subprime Loan portfolio Program. The program purchases performing vehicle loans, providing needed capital and allowing dealers to achieve greater liquidity in their business ventures. Additionally, sellers of portfolios will gain access to the analytics of the largest BHPH database in the industry, which allows dealers to identify potential underwriting mistakes and be more profitable. A unique benefit of the loyalty program, the first of its kind in the industry, is that SFG will offset the cost of Subprime Analytics services to dealers that sell a minimum of one million dollars to SFG in 2012.

“We are tremendously excited about this new partnership with SFG,” said Ken Shilson, President of Subprime Analytics. “The ability to provide access to a company that specializes in buying BHPH portfolios will be another valuable addition to the array of solutions Subprime Analytics offers its customers,” Shilson continued.

SFG Finance C.O.O. Henry Gonzalez added, “This alliance creates a win-win for both companies, SFG can continue to provide aggressive pricing in the acquisition of portfolios and Subprime Analytics can continue to help BHPH dealers grow their business. Gonzalez went on to say SFG is in the relationship business and we feel by working with Ken and his team we have opened the door to many relationships in the future.

SFG Finance purchases existing near prime, subprime, and BHPH auto loan portfolios from franchised and independent auto dealers, as well as finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, servicing released; all portfolios are held on balance sheet and serviced internally.

The program is highly efficient with a 7-10 day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since the inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.

Funding is made possible by SFGs parent bank, with the added advantage of no need to securitize plus a more stable cost of funds. SFG Finance offers complete transparency and up-front pricing based on its superior analytics. A due diligence team will evaluate all loans to maximize the selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.

Dealers can find out more about the program by visiting SFG Finance at booth #3129 at the upcoming NADA & ATD Convention and Expo in Las Vegas, Nevada on February 3-6, 2012. SFG Finance will also be exhibiting at the NABD Dealer Academy May 14th-16th as well as the NABD National Conference May 16th-18th, both to be held at the Venetian Palazzo in Las Vegas, Nevada.

About Subprime Analytics:

Subprime Analytics (http://www.subanalytics.com) provides computerized analysis of subprime portfolios for auto dealers and capital providers nationwide. Its affiliate Profit Max offers web based credit scoring solutions to the subprime industry. For more information visit http://www.subanalytics.com or call 832-767-4759

About SFG Finance

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys BHPH, sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.

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Thetica Programs Launches Cloud-Based Shipping System for Structured Finance Bond Analytics

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New York, NY (PRWEB) November 06, 2012

Thetica Techniques, a foremost company of analytical equipment for Structured Finance items, recently launched a cloud-based version of their infrastructure. By means of this new system, consumers are not required to lease or maintain focused servers for access, which translates to decrease charges and quicker implementation.

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CEO and co-founder Ariel Yankilevich states, “To process the huge amounts of info linked with RMBS, CMBS, CLO and CDO bonds, we have traditionally deployed our providers by means of placement of committed servers at client datacenters. While on-web site servers give a sturdy and safe resolution, they also increase the fees and established-up time. To more personalize our merchandise choices, we have engineered a protected and sturdy cloud-based mostly version of our system, which drastically minimizes client commence-up time and fees. This plug-and-play performance places the positive aspects of our Stomach muscles Explorer and Abdominal muscles Analytics merchandise instantly within get to for structured finance market contributors.”

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The firm studies that it is currently functioning with numerous data suppliers and cashflow state of affairs companies, such as CoreLogic and FiveBridges, in get to host their vectors on this cloud infrastructure. Cloud-primarily based clientele will be ready to flip on and off their obtain to these plug-and-enjoy modules by way of a straightforward month-to-month membership.

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People intrigued in a stay demonstration may possibly contact the company by phone at 727-724-4182 or e-mail Revenue(at)Thetica(dot)com. A latest Enterprise Working day movie on the company is also accessible.

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About Thetica Methods&#13

As Wall Avenue Securitization technologies pioneers, Thetica Programs understands the demands of Abdominal muscles marketplace contributors. Its clients include expense banking institutions, hedge resources, capital administration, brokers, dealers and other people that make investments in or monitor structured finance securities, with customers from traders and trading desks, analysis and item controllers to danger managers, regulatory reporting and IT.

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Thetica Techniques integrates customer-accredited data from Intex, IDC, BlackBox, CoreLogic (Loan Functionality and their predictive vectors), Bloomberg (through the Backoffice info feed), Five Bridges (predictive vectors), Lewtan/Abs.Net, MarkIt and Reuters (equally pricing knowledge for CLO NAV), Opera Options, Equifax (enhanced mortgage stage data), Regular &amp Poors, TransUnion, AdCo and Trepp.

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Thetica from the Greek letter theta which indicates Thought, Life Force and Explanation and the word etica which signifies Ethics. Imagined, reason and ethics are essential factors of any profitable company and commitment to this idea is embedded in the companys title.

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Verification Bureau Launches New Loan Modification Chance Administration and Verification System

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Miami, FL (PRWEB) February 7, 2009

Verification Bureau Inc., a chief in fraud detection and data verification options for the monetary market, released LoanMod Audit, a resolution which lowers the chance of re-defaults by helping loan companies and servicers forecast the borrower’s capacity to repay a modified loan.

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LoanMod Audit verifies the borrower’s earnings making use of a extremely automatic and paperless system, which accesses the Interior Earnings Service databases employing the 4506-T type. This IRS direct program is capable of providing final results in a matter of hours through a secure web site or in data format via XML web companies. The solution can be bundled with other goods and services obtainable by means of the fraudpredator.com on-line suite of data verification techniques which consist of: work, identification, collateral, and asset verification remedies.

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LoanMod Audit supplies adaptable integration capabilities to practically any servicing platform, consequently enabling servicers and loan providers to employ a comprehensive and streamlined financial loan modification method employing their present technologies.

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“Servicers experience the escalating problem of preventing avoidable foreclosures and helping defaulted borrowers to hold their homes by way of the loan modification initiative” mentioned Esteban Reyes – CEO for Verification Bureau, “LoanMod Audit, provides a reputable answer to minimize redefaults by properly validating the borrower’s capacity to repay the loan. Financial loan modification processes that are accomplished with the proper risk administration will foster transparency in the securitization market place and supply self-confidence again into the industry”. , he added.

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To find out far more about the LoanMod Audit answer get in touch with product sales (at) verificationbureau.com or phone 877-477-4506 Ext. 201.

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About Verification Bureau&#13

Started in 2001, Verification Bureau is the major company of automatic IRS 4506T processing and Social Security Quantity verification methods. In excess of two,five hundred clientele and 18,000 end users throughout the world have screened more than 1,000,000 mortgage information employing their suite of verification companies, pre-employment background screening, and fraud detection systems.&#thirteen

Verification Bureau offers a free of charge plan which loan companies can test for a limited time. For more data: http://www.verificationbureau.com, mobile phone 877-477-4506 Ext 201, or email sales (at) verificationbureau.com.

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Overture Systems Launches Automated Decisioning for Decline Mitigation

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Bethesda, Maryland (PRWEB) January 22, 2009

Overture Technologies, the leading service provider of decisioning solutions for transparent, correct and responsive lending procedures, announced these days the start of Mozart for Particular Servicing, an automatic decisioning program for servicing distressed mortgage belongings. Mozart for Specific Servicing is created to tackle the unparalleled quantity of delinquent mortgages in the U.S. nowadays as effectively as the increasing complexities in modifying financial loans and mitigating monetary losses thanks to foreclosure. Mozart for Unique Servicing allows servicers to manage and successfully utilize a far more robust set of options to borrowers in distressed home loans, and far more speedily yield a “greatest-in shape” modification that can decrease repeat default prices and protect the price of mortgage assets.

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According to the latest Mortgage Bankers Association Nationwide Delinquency Survey, the residential residence delinquency fee at the finish of the 3rd quarter of 2008 was six.ninety nine per cent, up a hundred and forty foundation factors from the identical interval in 2007 and the greatest recorded in the MBA study. According to a latest report by RealtyTrac, foreclosures filings were up 81% from 2007 and default or auction notices ended up recorded on a lot more than two.3 million properties in 2008. Credit Suisse estimates another 8.one million foreclosures are expected amongst 2009 and 2012. The existing charge of defaulting home loans in the U.S. nowadays much exceeds the manpower potential for financial institutions or servicers to work with borrowers employing traditional techniques and is probably to result in far more foreclosures than successful bank loan workouts.

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“Significant bank loan-level knowledge and examination, up-entrance, and surgically used is needed to control the unparalleled volume of distressed mortgages and growing complexities of merchandise, plans, and regulatory recommendations in the 21st century house loan business,” mentioned Linda Simmons, general supervisor of Overture Technologies’ Mortgage Finance Solutions. “Mozart for Specific Servicing can speedily offer a a lot more precise, recent see of borrower and asset details, supply a broader selection of ideal alternate options to debtors, decrease recidivism by receiving borrowers into the right answers the initial time and produce an audit trail for transparency.”

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Mozart for Special Servicing leverages Overture Technologies’ award-profitable automated decisioning engineering utilised in mortgage underwriting in a process referred to as, “automated re-decisioning,” implementing a sophisticated guidelines program to re-appraise risk and value of a financial loan at any level along the mortgage value chain. Mozart for Specific Servicing allows servicers to:

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*Get the borrower into the correct option the initial time, minimizing recidivism and maximizing owner-occupied residence retention employing much more current, related knowledge and data about the borrower and the asset.

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*Align the interests of debtors, bankers, secondary markets, traders and other 3rd functions at the commencing of the mortgage modification approach, as nicely as keep up with changing policies and demands.

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*Maintain steady, defensible, and transparent, procedures, stages of discretion and acceptance procedures, calculations and agreed upon results for every single loan, no matter of spikes in quantity and industry booms.

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*Give personalized workout possibilities at the bank loan amount, even though nonetheless producing it straightforward for Unique Servicing operations to scale up to satisfy the volume of present day crisis

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*Leverage existing infrastructure, integrate with legacy techniques and other information services.

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Mozart for Special Servicing gives the greater transparency essential by investors, auditors and regulators with English-language policies, total background of information modifications, selections, and selected choices. The application solution integrates with and enhances current work stream techniques and is deployed as a application-as-a-services. Mozart for Particular Servicing is available now and can be configured, built-in and managing in a issue of weeks.

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To see a demonstration of Overture Technologies’ Mozart for Special Servicing, check out booth #518 at the House loan Bankers Affiliation National House loan Servicing Conference in Tampa, February seventeen-20.

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About Overture Technologies&#13

Started in 2000, Overture Systems is the foremost provider of decisioning answers that empower clear, precise and responsive lending procedures for the home loan and greater education lending industries. Overture Technologies’ consumers are committed to offering exceptional home loan underwriting, servicing and securitization services and to growing students’ access to larger education financing alternatives. The firm’s leadership team applies many years of knowledge from leading economic companies and technologies corporations like Fannie Mae, Freddie Mac, Goldman Sachs, IBM and KPMG to help our clients obtain their targets. For more information, call (301) 492-2155 or go to http://www.overturecorp.com.

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