Vendor Unveils HAMP Product for Servicers

SoundBite Communications, Inc., Bedford, MA, is offering a solution for mortgage servicers participating in the government's Home Affordable Modification Program. The company said its product, the 'SoundBite Making Homes Affordable Accelerator' focuses on four stages in the loan modification process: qualification, processing, trial period and underwriting. The goal is to help mortgage servicers increase the number of modifications started and completed, as well as help improve borrower experience, said Matt Edmunds, vice president of financial services and collections at SoundBite. Multiple channels allow users to collect missing documents, verify information, and send automated reminders about trial modification payments. Proactive communication with qualified borrowers helps lower operating costs by minimizing the need for inbound calls.