DRI Management Systems, a Newport, Calif.-based default management software provider, has launched a new web-based loan servicing application called Rincon.
The platform, named by surfing enthusiast and CEO Duke Olrich for a legendary California wave spot, includes four modules in its initial release: loss mitigation, bankruptcy, foreclosure and REO.
The browser-based platform is designed for accelerated deployment and easy implementation. The web-based design embeds letters, forms and other workflow items into the automated environments of each specialized module, along with pre-authorized lender and investor parameters and workout modeling.
Third-party services are available with a DRI-sponsored vendor network and can be ordered either as needed or automatically by the rules engine.
"The goal is to empower and enable one person to do the work of two or even three, using automation designed to work seamlessly with existing servicing systems," said Olrich.
