Interlinq Adds A Default Suite

Harland Financial Solutions, which recently acquired Interlinq Software of Bellevue, Wash., has added default management capabilities to Interlinq Loan Servicing.

Joe Filoseta, vice president of business development in Harland's mortgage group, said default management is typically the most time-consuming and expensive aspect of loan servicing.

"Interlinq's ability to track loans in all stages of default can maximize profitability by shrinking case-resolution times," he said.

The new default management capabilities include loss mitigation analysis, bankruptcy guidelines, foreclosure analysis, claims automation and REO management.

At the annual convention of the Mortgage Bankers Association of America, Harland announced that two lenders, Accredited Home Loans, San Diego, and Real Time Solutions, Dallas, have already licensed the default management tools. Accredited specializes in subprime loans and Real Time Solutions services distressed loans.

Mr. Filoseta said that servicing of defaulted loans is "by definition a high-touch business and an exception business."

He said technology can help lenders analyze the situation and capture more data in determining how to proceed with a repayment plan, loan workout or foreclosure.

The new capabilities facilitate electronic communication with foreclosure and bankruptcy attorneys, he said.

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