RoundPoint Adopts Fannie Mae’s Foreclosure Prevention Tool

RoundPoint Mortgage Servicing Corp. has adopted Fannie Mae’s Servicing Management Default Underwriter tool meant to help servicers work faster and more consistently to prevent foreclosure.

Fannie Mae’s SMDU is a technology platform that provides servicers with real-time decisions on mortgage loan modifications and other solutions for homeowners with payment challenges. The platform enables workout decisions based on Fannie Mae and Servicing Alignment Initiative guidelines by integrating with existing loss mitigation systems, therefore enhancing solution delivery during the foreclosure prevention process.

Through the use of this tool, RoundPoint can now offer customers a comprehensive set of workout options while ensuring compliance to Fannie Mae guidelines. Additionally, SMDU allows for a reduced cycle time within the borrower evaluation process, enabling RoundPoint to communicate decisions to customers sooner.

The enterprises SMDU platform—accessible at any time—can be integrated with a servicer’s proprietary default management platform or accessed via a business to business vendor interface.  The tool informs the servicer when a homeowner is eligible for streamlined processing for any loss mitigation option, which results in cost savings and improved service to borrowers.

“The RoundPoint customer experience has greatly improved since adopting this platform,” said Dave Worrall, president of RoundPoint Mortgage Servicing Corp. which services approximately $8.5 billion of performing and nonperforming residential mortgage loans nationwide for regional banks, credit unions and hedge funds, in a press release. “Our customers desire more options and expect immediate decisions, and the SMDU tool allows us to deliver both.”