RCM Partners With Ellie Mae on Loan Mods

Retreat Capital Management, Inc., a third-party arbitration services company in Lake Forest, Calif., is collaborating with Ellie Mae to make its mortgage loan modification services available to more than 120,000 mortgage professionals using the Encompass Mortgage Management Solution. Users may either directly upload borrower information through their Encompass systems, or fax the information to RCM. Retreat Capital uses an advanced rules-based loss mitigation technology platform that interfaces with the lender's servicing system. Once a mortgage is submitted, the technology matches that loan against all available loss mitigation options to determine the most suitable solution. At that point, one of the company's negotiation specialists contacts the borrower to present the available options. Once a resolution is reached, Retreat Capital handles all of the required paperwork and closing activities. "In this market, lenders are in dire need of loss mitigation and foreclosure prevention services, but unfortunately, there's such an influx of activity that they don't always have the time to develop a workable solution on their own," said Arvin Wijay, CEO of Retreat Capital Management.