Mortgage technology vendor CoreLogic this week unveiled a new default servicing platform that includes nine modules that interconnect within its architecture.
The product, DefaultView, uses a master-loan architecture that offers a singular view of a loan and opens pathways between previously disconnected servicing functions.
The product can be integrated using a servicer's existing technology, which means computer codes will not need to be rewritten.
The company claims the design enables end users “across a default enterprise to easily see a complete transaction history including workflow steps, resulting data, outcomes and all related documents and messages. By enabling top-down transparency across all relevant default departments and functions, the platform simplifies reporting and strengthens management oversight.”
A company spokesman noted that, “With the AG Settlement painting a picture of what servicing will look like in the future” DefaultView can help residential servicers “make immediate adjustments and progress, plus reduce their own levels of risk and streamline processes.”
The Santa Ana, Calif.-based CoreLogic is showing off the product at the MBA servicing show in Orlando this week.
