LenderLive Advises End-To-End Approach to LOS Mitigation
As servicers look to handle record workouts, technology is there to help. Business process outsourcing firm LenderLive Network says this is the perfect time for servicers to think more end-to-end about their loss mitigation needs.
"LenderLive Settlement Services has efficiently delivered sound title and closing and settlement solutions on a national scale to multi-state and regional lenders," said Rick Seehausen president and CEO of LenderLive. "Either bundled with LenderLive's other mortgage fulfillment services or delivered independently, the LLSS division streamlines operations by eliminating the need to manage multiple vendors across different regions, resulting in the ability to close more loans and provide greater customer satisfaction."
Colorado-based Ellis Financial has been an LLSS client for three years. An in-house lender for a network of Realtors, it leverages the technology and expertise of LLSS to support quick turn times and accurate documentation of title policies for mortgage refinances. Chaun Ellis, the company's president, explained, "The support from LenderLive has allowed us to effectively adapt to varying demands in purchase and refinance activity, all without raising our costs of doing business or jeopardizing customer service." In preparation of 2010 RESPA changes, LLSS coordinated efforts between clients, loan investors and software providers to ensure a smooth transition to new reporting and disclosure procedures.
LenderLive has also increased its title production staff to accommodate the substantial demand for pre-foreclosure and loss mitigation title endorsements and recording services. LenderLive has provided outsourced fulfillment services on a significant number of loan modifications and is able to seamlessly bundle its title and recording services with these fulfillment services to help servicers reduce costs and complete more loan modifications.
LLSS works with clients to create data reports designed to give servicers all the information they need, in a single report delivered quickly and securely. This information, in many cases delivered directly into the servicers' systems, provides the servicer with 24-hour access to the data necessary for complying with new government regulations relating to loan modifications.