LOGS Network Chooses CSC's Default Technology
Computer Sciences Corp. here has been selected by LOGS Network to provide a mortgage default-related software package. LOGS will use CSC's EarlyResolution mortgage default Software as a Service for its recently launched home retention assistance business, known as HEART Financial Services.
HEART (Homeowners Equity Assisted Retention Team) will use EarlyResolution's decision engine to recommend customized workout programs for residential borrowers whose delinquent loans have been referred fore foreclosure or bankruptcy representation. HEART provides loss mitigation services to mortgage lenders in conjunction with member firms of the LOGS Network. EarlyResolution can be configured to reflect the individual rules of each of these clients so that, on inbound and outbound contacts, HEART's staff can determine a delinquent borrower's eligibility and recommend the optimal loss mitigation option.
"EarlyResolution is a standard for loss mitigation in the mortgage servicing industry," said Gerald Alt, president and chief operating officer of LOGS Network, in a news release.
"By providing a platform that many of our servicing clients have in common, EarlyResolution will allow HEART Financial Services to get to market more quickly," he said.
Computer Science Corp. said that EarlyResolution is currently used by five of the nation's 10 largest mortgage servicers.
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