Overture Launches Tool To Help Servicers Automate

In order to help overburdened servicers, Overture Technologies has launched Mozart for Special Servicing to help servicers automate and get borrowers in the right mod the first time around. The new tool leverages Overture Technologies' automated decisioning technology used in mortgage underwriting in a process called, "automated re-decisioning," applying a rules system to re-evaluate risk and value of a loan at any point along the mortgage value chain. Mozart for Special Servicing enables servicers to align the interests of borrowers, bankers, secondary markets, investors and other third parties at the beginning of the loan modification process, as well as keep up with changing policies and requirements. The application maintains consistent, defensible, and transparent, processes, levels of discretion and approval practices, calculations and agreed upon outcomes for every loan, regardless of spikes in volume and industry booms. It also provide tailored workout options at the loan level, while still making it easy for Special Servicing operations to scale up to meet the volume of today's crisis. Lastly, the technology leverages existing infrastructure, and integrates with legacy systems and other data facilities.